Why is Varun Beverages falling/rising?

As of 17-Sep, Varun Beverages Ltd is experiencing a price increase, currently at Rs 471.00, reflecting a rise of Rs 7.9 or 1.71%. Despite this uptick, the stock has shown a negative performance over the past week, down 1.15%, and a more significant decline of 6.25% over the past month. However, today's trading has seen the stock outperform its sector by 1.13%, with an intraday high of Rs 476.9. The stock is currently trading below its moving averages, indicating potential weakness, but there has been a notable increase in investor participation, with delivery volume rising by 33.13% against the five-day average. The company's strong fundamentals, including a high return on equity and consistent positive results over the last three quarters, support its long-term growth potential.
Broader market context shows that while Varun Beverages has underperformed the benchmark Sensex in the short term, with a year-to-date decline of 26.23% compared to the Sensex's gain of 5.83%, its long-term performance remains robust, with a 3-year return of 113.78% against the Sensex's 40.54%. The high institutional holdings at 32.38% suggest confidence from knowledgeable investors, which may contribute to the stock's resilience despite recent volatility. Overall, while the stock is currently rising, its recent history of underperformance relative to the market indicates a complex interplay of factors influencing investor sentiment.