Why is Gokaldas Exports falling/rising?

As of 12-Aug, Gokaldas Exports Ltd is currently priced at Rs 705.00, reflecting an increase of Rs 10.0 or 1.44%. The stock has shown a trend reversal by gaining after two consecutive days of decline, and it outperformed its sector by 2.01% today. Despite this positive movement, the stock is still trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend overall. Additionally, the stock is close to its 52-week low, being only 3.55% away from Rs 680. The company has reported healthy long-term growth with net sales increasing at an annual rate of 25.01% and operating profit at 60.83%. However, the stock's valuation appears expensive with a price-to-book value of 2.7, and a significant portion of promoter shares (96.28%) are pledged, which may exert downward pressure on the stock price.
In the broader market context, Gokaldas Exports has underperformed compared to the benchmark, with a one-year return of -22.65% against the BSE500's negative return of -2.11%. Over the past week, the stock has declined by 5.81%, while the Sensex has only fallen by 0.59%. This stark contrast highlights the stock's struggle in the current market environment. Despite positive quarterly results and growth in profits, the high level of pledged shares and expensive valuation relative to peers may contribute to investor caution, impacting the stock's ability to recover in the short term.