Why is Paras Defence falling/rising?

As of 01-Aug, Paras Defence and Space Technologies Ltd is experiencing a decline in its stock price, currently at Rs 633.05, which represents a decrease of Rs 28.8 or 4.35%. The stock has underperformed its sector by 2.83% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 7.58%. Over the past week, the stock has fallen by 19.12%, and in the last month, it has decreased by 22.20%. Despite positive financial results over the last five quarters, including a 23.37% growth in net sales and a 39.36% increase in profit after tax, concerns about poor long-term growth and high valuation metrics, such as a price-to-book ratio of 8, are contributing to the stock's recent decline.
In the broader market context, the stock's performance has significantly lagged behind the Sensex, which has only declined by 1.06% over the past week and 3.70% over the past month. This stark contrast highlights the stock's struggles, particularly as institutional investors have reduced their stakes by 0.63%, indicating a lack of confidence from more sophisticated market participants. The company's low debt-to-equity ratio and strong recent earnings growth are positive factors; however, the overall sentiment is weighed down by concerns over its long-term growth potential and declining investor participation.