Why is Arnold Holdings falling/rising?

As of 01-Aug, Arnold Holdings Ltd is currently priced at 24.19, reflecting an increase of 0.33 or 1.38%. Despite this uptick, the stock has shown a negative performance over the past week and month, with declines of 2.77% and 7.39%, respectively. The stock is trading 4.92% above its 52-week low and has outperformed its sector by 2.86% today. However, it is trading below all key moving averages, indicating a bearish trend. The company has a return on equity of 8.5 and is valued attractively at a price-to-book ratio of 0.9, but it has faced significant challenges, including a 39.6% drop in profits over the past year and a substantial 27.8% decline in net sales, leading to operating losses and a weak long-term fundamental outlook.
In the broader market context, Arnold Holdings has underperformed the benchmark, with a one-year return of -49.54% compared to the BSE500's -4.13%. This stark contrast highlights the company's struggles relative to the market. Despite a recent increase in investor participation, as evidenced by a 48.53% rise in delivery volume, the overall sentiment remains negative due to the company's ongoing operational losses and declining sales figures. The majority of shareholders being non-institutional may also contribute to the stock's volatility and lack of confidence in its recovery prospects.