Why is Paras Defence falling/rising?

As of 29-Sep, Paras Defence and Space Technologies Ltd is experiencing a decline in its stock price, currently at Rs 671.10, which reflects a decrease of Rs 23.65 or 3.4%. The stock has underperformed its sector by 4.17% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 5.59%. Despite touching an intraday high of Rs 710, it also reached a low of Rs 666.15. Over the past week, the stock has fallen by 8.69%, although it has shown a positive return of 3.50% over the past month and a significant increase of 33.55% year-to-date. The company has reported strong financial performance in recent quarters, with net sales growing by 23.37% and profit after tax increasing by 39.36%. However, concerns about long-term growth persist, as the operating profit has only grown at an annual rate of 18.11% over the last five years, and the stock is considered to have an expensive valuation.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by only 2.18% over the past week. While Paras Defence has outperformed the market over the past year with a return of 25.63% compared to the Sensex's drop of 6.08%, the recent decrease in institutional investor participation, with a reduction of 0.63% in their stakes, raises concerns about future support for the stock. This decline in institutional interest, coupled with the stock's high price-to-book value ratio and a PEG ratio of 1.7, suggests that investors may be reassessing the stock's valuation in light of its slower growth prospects.