Why is Arnold Holdings falling/rising?

As of 23-Jun, Arnold Holdings Ltd is experiencing a decline in its stock price, currently at Rs. 24.60, reflecting a decrease of -0.8 or -3.15%. The stock has hit a new 52-week low today and has underperformed its sector by -3.68%. Over the past week, the stock has fallen by -5.35%, and its year-to-date performance shows a significant drop of -43.94%. The company has been trading below its moving averages across various time frames, indicating a bearish trend. Additionally, the stock has seen a drastic decline in investor participation, with delivery volume plummeting by -92.73% compared to the 5-day average. While the stock is trading at a discount compared to its peers and has a relatively attractive valuation with a Price to Book Value of 0.9, the company has reported negative financial results, including a -27.8% fall in net sales and an operating loss, which contributes to its weak long-term fundamental strength.
In the broader market context, Arnold Holdings has significantly underperformed the benchmark, with a one-year return of -49.05% compared to the BSE 500's positive return of 2.78%. This stark contrast highlights the challenges faced by the company, particularly in light of its recent negative financial results and declining sales. Despite a slight increase in institutional investor participation, which suggests some confidence from larger investors, the overall sentiment remains negative due to the company's ongoing operational losses and poor performance metrics. The combination of these factors has led to a lack of investor confidence, contributing to the stock's downward trajectory.