Why is Patanjali Foods falling/rising?

As of 24-Jul, Patanjali Foods Ltd is experiencing a decline in its stock price, currently at Rs 1,891.00, which reflects a decrease of Rs 44.7 or 2.31%. The stock has underperformed its sector today by 0.97% and has been on a consecutive downward trend for the last two days, resulting in a total decline of 2.51% during this period. Despite this recent downturn, the stock has shown strong performance over the past month with a return of 16.51%, and it has outperformed the market significantly over the past year, generating a return of 14.66% compared to the BSE500's 0.99%. Positive factors contributing to the stock's overall strength include a strong ability to service debt, healthy long-term growth in net sales and operating profit, and consistent positive quarterly results. However, the stock's high valuation relative to its peers and a slight decrease in promoter confidence, with a reduction in their stake, may be contributing to the current price decline.
Broader Market Context: In the short term, Patanjali Foods has underperformed the benchmark Sensex, which has seen a minimal decline of 0.09% over the past week, while the stock itself has decreased by 0.98%. The broader market context indicates that while the stock has shown impressive long-term growth and profitability, the recent price movement may reflect investor concerns regarding its valuation and promoter confidence, which could be influencing market sentiment negatively.