Why is Varun Beverages falling/rising?

As of 23-Jul, Varun Beverages Ltd is experiencing a price increase, currently at Rs 487.80, reflecting a change of 2.6 (0.54%) upwards. The stock has shown a positive performance today, outperforming its sector by 0.42%, although it has traded within a narrow range of Rs 4.3. Over the past week, Varun Beverages has returned +1.60%, and +5.69% over the past month, indicating a stronger short-term performance compared to the benchmark Sensex, which has returned +0.11% and +1.01% respectively. The company boasts strong long-term fundamentals, with a healthy average Return on Equity (ROE) of 20.57% and significant growth in net sales and operating profit. Additionally, high institutional holdings at 32.38% suggest confidence from more resourceful investors.
Broader Market Context: The stock's recent upward movement can be attributed to its solid financial performance and growth potential, especially in light of its substantial market capitalization of Rs 1,64,091 crore, which constitutes 42.04% of its sector. Despite a year-to-date decline of -23.60% compared to the Sensex's +5.87%, the stock's strong operational cash flow and low debt-equity ratio indicate resilience and capability to recover. However, the falling investor participation, with a significant drop in delivery volume, may pose a concern for sustained momentum. Overall, while Varun Beverages is currently rising, its long-term performance will depend on maintaining investor interest and addressing the recent decline in trading volume.