Why is Gokaldas Exports falling/rising?

As of 03-Sep, Gokaldas Exports Ltd is currently priced at 735.30, reflecting a decline of 4.05 points or 0.55%. The stock has underperformed its sector by 1.5% today and has experienced a trend reversal after two consecutive days of gains, touching an intraday low of Rs 723, which represents a decrease of 2.21%. Over the past week, the stock has shown a positive return of 6.52%, but it has fallen by 9.63% over the past month and has a year-to-date decline of 35.02%. Despite the company demonstrating strong financial health with a low Debt to EBITDA ratio and consistent growth in net sales and operating profit, it faces challenges due to a high Price to Book Value ratio and a significant percentage of pledged promoter shares, which can exert downward pressure on the stock price.
In the broader market context, Gokaldas Exports has significantly underperformed compared to the benchmark index, with a one-year return of -21.00% against the BSE500's -4.38%. This stark contrast highlights the stock's struggles despite the overall market's relatively modest decline. The company's recent positive quarterly results have not translated into stock price appreciation, indicating that investor sentiment remains cautious, particularly in light of the high valuation and pledged shares. The falling investor participation, as evidenced by a 25.54% drop in delivery volume, further suggests a lack of confidence among traders, contributing to the stock's current downward trajectory.