Why is Patanjali Foods falling/rising?

As of 22-Jul, Patanjali Foods Ltd is experiencing a slight increase in its stock price, currently at Rs 1,939.70, reflecting a change of 1.7 (0.09%) upward. The stock has shown strong performance over various periods, with a 1-week return of +11.28% and a 1-month return of +17.56%, significantly outperforming the Sensex, which has seen declines of -0.47% and -0.27% respectively. The stock is trading above its moving averages across multiple time frames, indicating positive momentum. Furthermore, the company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 0.95 times, consistent positive quarterly results, and a healthy growth rate in net sales and operating profit. However, there has been a notable decline in investor participation, with delivery volume dropping by 61.2% compared to the 5-day average.
In the broader market context, Patanjali Foods' strong short-term performance stands in stark contrast to the benchmark, as it has generated a return of 20.95% over the past year, while the BSE500 has only returned 0.99%. This outperformance suggests that investor confidence remains high despite the recent drop in trading volume. Additionally, the stock's high institutional holdings at 22.13% indicate that knowledgeable investors are backing the company, which may further support its price stability. However, concerns about its valuation persist, as indicated by a relatively high Price to Book Value ratio of 6.2, which could lead to caution among potential investors.