Why is Arunjyoti Bio falling/rising?

As of 11-Jun, Arunjyoti Bio Ventures Ltd is experiencing a decline in its stock price, currently at 6.99, which reflects a decrease of 0.21 or 2.92%. The stock has underperformed its sector by 2.34% today and has been on a downward trend for the last three days, accumulating a total decline of 6.05%. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a weak performance. The company's promoter holding has decreased to 47.64%, which may signal a lack of confidence among major stakeholders. Furthermore, the company reported negative financial results, with a PAT of -3.11 crore and a significant drop in net sales, contributing to a weak long-term fundamental strength reflected in an average Return on Equity (ROE) of only 6.58%.
In the broader market context, the stock has significantly underperformed compared to the benchmark, with a one-year return of -10.89% against the BSE 500's positive return of 5.98%. Over the past week, Arunjyoti Bio has seen a decline of 3.05%, while the Sensex has increased by 1.87%. This stark contrast highlights the stock's struggles in a generally positive market environment. The falling investor participation, evidenced by a 10.41% drop in delivery volume, further underscores the lack of interest in the stock, which is compounded by its expensive valuation relative to peers and a substantial decline in profitability over the past year.