Why is Patanjali Foods falling/rising?

As of 05-Aug, Patanjali Foods Ltd is experiencing a decline in its stock price, currently at Rs 1,833.70, reflecting a decrease of Rs 28.9 or 1.55%. Today's performance indicates that the stock has underperformed its sector by 0.84%, with an intraday low of Rs 1,818.25, marking a drop of 2.38%. Despite a strong long-term growth trajectory, with net sales growing at an annual rate of 21.08% and operating profit at 44.38%, the stock's recent movement is impacted by a significant drop in investor participation, as evidenced by an 86.56% decrease in delivery volume compared to the 5-day average. Additionally, while the company has shown positive results over the last four quarters, the reduction in promoter confidence, with a 0.62% decrease in their stake, raises concerns about future business prospects.
In the broader market context, Patanjali Foods has underperformed the Sensex over the past week, with a return of -2.88% compared to the benchmark's -0.77%. However, the stock has demonstrated stronger performance over longer periods, with a year-to-date return of 4.48% versus the Sensex's 3.29%. Despite its healthy long-term growth and ability to service debt, the stock's relatively high valuation, indicated by a Price to Book Value of 5.8, may deter some investors. The combination of declining promoter confidence and reduced trading activity suggests that market sentiment may be shifting, contributing to the stock's current downward trend.