Why is Patanjali Foods falling/rising?

As of 26-Aug, Patanjali Foods Ltd is experiencing a decline in its stock price, currently at 1,800.80, which reflects a decrease of 8.15 points or 0.45%. The stock has underperformed its sector today by 1.47%, despite being higher than its 5-day, 50-day, 100-day, and 200-day moving averages, but lower than its 20-day moving average. Additionally, the delivery volume has significantly decreased by 65.53% compared to the 5-day average, indicating falling investor participation. Over the past week, the stock has shown a modest gain of 0.60%, but it has declined by 4.26% over the past month, while its year-to-date performance remains positive at 2.61%. However, the company has reported a substantial drop in profit before tax and profit after tax compared to previous quarters, which may be contributing to the negative sentiment surrounding the stock.
In the broader market context, while the Sensex has declined by 1.05% over the past week, Patanjali Foods has managed to outperform it slightly. However, the stock's recent performance is overshadowed by its high valuation metrics, including a Price to Book Value of 5.7, which is considered expensive compared to its peers. The increase in pledged promoter shares, now at 37.77%, adds further pressure on the stock, particularly in a falling market. Despite the company's strong long-term growth potential, as evidenced by its healthy net sales and operating profit growth, the recent financial performance and high valuation concerns are likely contributing to the stock's downward movement.