Why is Patanjali Foods falling/rising?

As of 18-Jul, Patanjali Foods Ltd is experiencing a price increase, currently at 1,944.05, which reflects a rise of 34.3 or 1.8%. The stock has shown strong performance, gaining 18.36% over the last eight days and outperforming its sector by 2.46% today. It is also trading close to its 52-week high, just 4.42% away from Rs 2030. The stock's returns have been impressive over various periods, with a 22.12% increase over the past year, significantly outperforming the benchmark Sensex, which has only risen by 0.51%. Additionally, the company has demonstrated strong financial health, with a low Debt to EBITDA ratio of 0.95 times and consistent positive results over the last four quarters, contributing to investor confidence.
In the broader market context, while the BSE500 has generated negative returns of -0.36% over the last year, Patanjali Foods has managed to achieve a substantial return of 22.12%, indicating its resilience and strong market position. The stock's performance is further supported by high institutional holdings at 22.13%, which have increased by 2.54% in the previous quarter, suggesting that knowledgeable investors are confident in the company's fundamentals. Despite its strong performance, the stock is considered expensive with a high Price to Book Value of 6.2, which could be a concern for some investors. However, the overall positive financial indicators and recent price movements suggest a bullish sentiment surrounding Patanjali Foods Ltd.