Why is Arnold Holdings falling/rising?

As of 13-Jun, Arnold Holdings Ltd is experiencing a decline in its stock price, currently at Rs 26.00, reflecting a decrease of Rs 1.0 or 3.7%. The stock has underperformed significantly, with a 1-week return of -7.14% and a 1-month return of -9.41%. It is currently trading close to its 52-week low, just 4.23% above Rs 24.9. The stock has been losing for the last two days, with a total decline of -6.64% during this period. Additionally, it is trading below all key moving averages, indicating a bearish trend. Despite a very attractive valuation with a return on equity of 8.5% and a price-to-book value of 1, the company's operating losses and a significant drop in net sales of -27.8% have contributed to its negative performance, resulting in a year-to-date return of -40.75%.
In the broader market context, the stock has underperformed the Sensex, which has shown a modest gain of 3.81% year-to-date. While institutional investors have increased their stake by 0.84%, indicating some confidence in the company's potential, the overall market sentiment remains negative due to the company's weak long-term fundamentals and consecutive quarters of losses. The stock's performance over the last year, with a decline of -47.99% compared to the market's positive return of 3.05%, highlights the challenges Arnold Holdings faces in regaining investor confidence amidst its financial struggles.