Why is Patanjali Foods falling/rising?

As of 02-Sep, Patanjali Foods Ltd is currently priced at 1,805.20, reflecting an increase of 9.45 (0.53%). The stock has been gaining for the last three days, with a total return of 1.84% during this period, although it underperformed its sector by 0.95%. In terms of longer-term performance, the stock has seen a decline of 8.42% over the past year, despite a healthy annual growth rate in net sales of 22.41% and operating profit of 34.88%. However, the recent quarterly performance has raised concerns, as the profit after tax fell by 44.5% compared to the previous four-quarter average, and the operating profit to net sales ratio is at its lowest. Additionally, a significant portion of promoter shares, 37.77%, is pledged, which can exert downward pressure on the stock in a falling market.
In the broader market context, the stock's short-term return of +0.24% over the past week contrasts with the Sensex, which has declined by 0.78%. While the stock has shown some resilience with a year-to-date return of +2.86% compared to the Sensex's +2.58%, the overall sentiment remains cautious due to the recent drop in profitability and high valuation metrics, such as a price-to-book value of 5.8, which is considered expensive relative to peers. The falling investor participation, indicated by a 36.64% drop in delivery volume, further suggests a lack of confidence among investors, contributing to the stock's recent performance dynamics.