Why is Arunjyoti Bio falling/rising?

As of 24-Jun, Arunjyoti Bio Ventures Ltd is experiencing a price increase, currently at 6.19, reflecting a rise of 0.29 or 4.92%. The stock has shown a strong performance today, outperforming its sector by 4% and achieving a consecutive gain over the last three days, resulting in a total return of 15.49% during this period. However, despite this recent uptick, the stock has underperformed over the longer term, with a 1-month decline of 15.67% and a year-to-date drop of 69.33%. Additionally, the promoter holding has decreased to 47.64%, which may raise concerns among investors about the company's stability. The stock's fundamentals are weak, evidenced by a low return on equity of 6.58% and negative profit after tax growth of -21.12%, indicating ongoing financial challenges.
In the broader market context, the stock's short-term performance is significantly better than the benchmark, as it has gained 4.38% over the past week compared to the Sensex's modest increase of 0.58%. However, the stock's long-term performance remains concerning, with a 1-year return of -16.36%, while the broader market has generated a positive return of 6.10%. This stark contrast highlights the stock's struggle to keep pace with market trends, despite its recent gains. Overall, while the short-term price movement may suggest a recovery, the underlying financial issues and decreased promoter confidence could hinder sustained growth.