Why is Patanjali Foods falling/rising?

As of 24-Jun, Patanjali Foods Ltd is currently priced at 1,623.00, reflecting an increase of 8.9 points or 0.55%. Despite this uptick, the stock has shown a decline of 2.11% over the past week and 4.42% over the past month, indicating a challenging short-term performance compared to the Sensex, which has gained 0.58% and 0.41% respectively during the same periods. The stock is trading below its moving averages across various time frames, suggesting a bearish trend. However, there has been a notable increase in investor participation, with delivery volume rising by 94.72% against the 5-day average, which may indicate growing interest among investors. Additionally, the company has demonstrated strong financial health with a low Debt to EBITDA ratio and consistent positive quarterly results, including significant growth in net sales and profit.
In the broader market context, while Patanjali Foods has experienced a decline in the short term, the Sensex has performed positively, highlighting a divergence between the stock and the overall market. The company's long-term growth prospects remain robust, supported by healthy sales growth and increasing institutional holdings, which rose by 2.54% in the last quarter. However, the stock's valuation appears expensive relative to its return on equity and price-to-book value, which may be causing some investors to reassess their positions. Overall, while the stock is currently rising, its recent performance against the benchmark and valuation concerns suggest a complex outlook.