Why is Parag Milk Foods falling/rising?

As of 12-Sep, Parag Milk Foods Ltd is experiencing a price increase, currently at Rs. 278.35, reflecting a rise of Rs. 6.75 or 2.49%. The stock has recently hit a new 52-week high of Rs. 284.55 and has outperformed its sector by 3.38%. Over the past three days, the stock has gained 6.12%, and it is trading above all key moving averages, indicating strong upward momentum. Additionally, the stock has shown impressive returns, with a 49.53% increase over the past year and a 139.24% rise over the last three years. The recent increase in institutional investor participation, which has risen by 0.73% to a total of 16.1%, further supports the stock's positive outlook, as these investors typically have better resources to analyze company fundamentals.
In the broader market context, Parag Milk Foods has significantly outperformed the benchmark Sensex, which has only risen by 1.48% over the past week and 4.82% year-to-date. The stock's strong performance relative to the benchmark, alongside its attractive valuation metrics such as a ROCE of 11.8 and a PEG ratio of 1.2, suggests that it is trading at a discount compared to its peers. This combination of strong recent performance, rising investor interest, and favorable valuation metrics contributes to the stock's upward movement in the market.