Why is Patanjali Foods falling/rising?

As of 17-Jul, Patanjali Foods Ltd is experiencing a price increase, currently at Rs 1,909.75, reflecting a rise of Rs 47.4 or 2.55%. The stock has shown strong performance today, outperforming its sector by 2.45% and achieving consecutive gains over the last seven days, resulting in a total return of 16.27% during this period. Additionally, the stock has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. The company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 0.95 times and impressive growth in net sales and operating profit. Furthermore, the stock has garnered high institutional interest, with holdings increasing by 2.54% over the previous quarter, which typically signals confidence in the company's fundamentals.
In the broader market context, Patanjali Foods has significantly outperformed the benchmark Sensex, with a 1-week return of +14.63% compared to the benchmark's -1.12%. Over the past year, the stock has generated a return of 22.51%, far exceeding the market's return of 1.91%. This strong performance is supported by the company's consistent positive results over the last four quarters, which have likely bolstered investor confidence. However, it is worth noting that the stock is trading at a premium valuation compared to its peers, with a Price to Book Value of 6.1, which could be a concern for some investors looking for value.