Why is Parag Milk Foods falling/rising?

As of 12-Nov, Parag Milk Foods Ltd is experiencing a significant rise in its stock price, currently at Rs. 356.40, which reflects an increase of Rs. 42.25 or 13.45%. The stock has recently hit a new 52-week high of Rs. 363 and has outperformed its sector by 13.26%. Over the past two days, it has gained 13.79%, and it opened today with a gain of 2.5%. The stock's performance over various periods shows impressive returns, including a 67.32% increase over the past year and a remarkable 229.85% over the last three years. Despite these gains, there has been a notable decline in investor participation, with delivery volume falling by 48.77% against the five-day average, which could indicate a potential concern for sustained momentum.
In the broader market context, Parag Milk Foods has significantly outperformed the Sensex, which has only risen by 1.21% over the past week and 2.38% over the past month, while Parag Milk Foods has achieved returns of 12.95% and 27.88%, respectively. The company's attractive valuation, with a return on capital employed (ROCE) of 11.8 and a PEG ratio of 1.2, suggests that it is trading at a discount compared to its peers, further supporting its upward price movement. Additionally, the stock's strong performance in both the short and long term, alongside a solid increase in profits by 34.9% over the past year, reinforces the positive sentiment surrounding the stock.