Why is Patanjali Foods falling/rising?

As of 13-Aug, Patanjali Foods Ltd is experiencing a decline in its stock price, currently at 1,799.95, reflecting a decrease of 20.1 points or 1.1%. The stock has underperformed its sector today by 1.23%, although it remains higher than its 50-day, 100-day, and 200-day moving averages. Notably, the stock has shown a positive trend over the past month with a return of 7.84%, despite a slight decline of 1.41% over the past week. The company has demonstrated strong financial health with a low Debt to EBITDA ratio of 0.95 times and consistent growth in net sales and operating profit. However, the stock's valuation appears expensive with a Price to Book Value of 5.8, and a significant portion of promoter shares, 37.77%, are pledged, which could exert downward pressure in a volatile market.
In the broader market context, while Patanjali Foods has generated a return of 1.22% over the past year, it has underperformed the benchmark Sensex, which has returned 2.01% in the same period. The stock's recent performance reflects a mixed outlook; while it has shown strong long-term growth and positive quarterly results, the high valuation and increased pledged shares raise concerns among investors. The stock's liquidity remains adequate for trading, but the recent decline in price suggests that investor sentiment may be cautious given the current market conditions.