Why is Paras Defence falling/rising?

As of 04-Aug, Paras Defence and Space Technologies Ltd is experiencing a price increase, currently at Rs 643.85, reflecting a rise of Rs 12.0 or 1.9%. Despite this uptick, the stock has underperformed its sector by 1.3% today and opened with a loss of 2%. It has seen a trend reversal after two consecutive days of decline, reaching an intraday high of Rs 653, although it also touched a low of Rs 608.5 during the day. Over the past week, the stock has fallen by 8.63%, and over the last month, it has decreased by 31.03%. However, it has shown positive growth year-to-date at 28.12%. The company has reported positive financial results over the last five quarters, with net sales growing by 23.37% and profit after tax increasing by 39.36%. Despite these positive indicators, concerns about poor long-term growth and a high valuation relative to its peers may be influencing investor sentiment. In the broader market context, the Sensex has shown a slight gain of 0.16% over the past week, contrasting with the stock's significant decline. While the defence sector has gained by 3.33%, the overall participation from institutional investors has decreased, which may be contributing to the stock's volatility. The stock's performance over the past year has yielded a return of 2.93%, which is modest compared to its profit growth of 55.2%, indicating a potentially expensive valuation with a PEG ratio of 1.7. This disparity between stock performance and profit growth could be leading to cautious sentiment among investors, particularly institutional ones, who have reduced their stakes in the company.