Why is Paras Defence falling/rising?

As of 23-Sep, Paras Defence and Space Technologies Ltd is experiencing a decline in its stock price, currently at Rs 713.00, which reflects a decrease of Rs 22.0 or 2.99%. The stock has underperformed its sector by 2.5% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 4.66% during this period. Additionally, the stock reached an intraday low of Rs 711.5, and trading volume has decreased significantly, with delivery volume falling by 44.13% compared to the five-day average. Despite these short-term challenges, the company has shown strong financial performance over the past several quarters, with net sales growing by 23.37% and profit after tax increasing by 39.36%, indicating a solid operational foundation.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has declined by 3.45% over the past week while the Sensex has only fallen by 0.34%. However, over the longer term, Paras Defence has outperformed the market significantly, with a year-to-date return of 41.88% compared to the Sensex's 5.07%. This indicates that while the stock is currently facing short-term pressures, its overall performance in the market has been strong, suggesting that the recent decline may be more reflective of temporary market conditions rather than fundamental weaknesses in the company.