Why is Parag Milk Foods falling/rising?

As of 15-Sep, Parag Milk Foods Ltd's stock price is rising, currently at 298.05, reflecting an increase of 19.7 or 7.08%. The stock has recently hit a new 52-week high of Rs. 316.5 and has outperformed its sector by 7.07%. Over the past four days, it has gained 13.63%, and its performance over the last month shows a significant increase of 40.36%. The stock is trading above all major moving averages, indicating strong upward momentum. Additionally, the increase in institutional investor participation, with a 0.73% rise in their stake, suggests growing confidence in the company's fundamentals, which are supported by a return on capital employed (ROCE) of 11.8 and a favorable PEG ratio of 1.3.
In the broader market context, Parag Milk Foods has significantly outperformed the Sensex, which has only increased by 1.24% over the past week, while the stock itself has risen by 11.40%. This trend of strong performance is consistent over longer periods, with the stock showing a year-to-date increase of 58.33% compared to the Sensex's 4.67%. The stock's ability to generate substantial returns, coupled with rising investor participation and attractive valuations compared to peers, reinforces its upward trajectory in the market.