Why is Parag Milk Foods falling/rising?

As of 18-Sep, Parag Milk Foods Ltd is experiencing a price increase, currently at 299.25, reflecting a rise of 8.95 or 3.08%. The stock has shown a strong performance today, outperforming its sector by 2.69% and reversing a trend after two consecutive days of decline. It reached an intraday high of Rs 309.65, indicating positive momentum. Over the past week, the stock has gained 10.18%, and it has significantly outperformed the Sensex with a 67.93% return over the past year, while profits have risen by 23.4%. The stock is also trading at a discount compared to its peers, which contributes to its attractive valuation. Additionally, institutional investors have increased their stake, indicating growing confidence in the company's fundamentals.
In the broader market context, Parag Milk Foods has outperformed the Sensex, which has only increased by 1.80% over the past week and 6.24% year-to-date, while Parag Milk Foods has achieved a remarkable 58.96% increase in the same timeframe. This strong performance relative to the benchmark highlights the stock's resilience and appeal among investors, particularly given the increasing participation from institutional investors who collectively hold 16.1% of the company. Despite a recent decline in delivery volume, the stock remains liquid enough for trading, suggesting ongoing interest from market participants.