Why is Arunjyoti Bio falling/rising?

As of 30-Jun, Arunjyoti Bio Ventures Ltd's stock price is currently at 6.77, reflecting a decrease of 0.13, or 1.88%. The stock has recently experienced a trend reversal, falling after six consecutive days of gains. Despite this, it has outperformed the sector in the past week with a return of 14.75%, although it has underperformed in the last month with a decline of 16.83%. The stock's liquidity appears adequate, with a notable increase in delivery volume, which rose by 208.64% on June 27. However, the decrease in promoter holding to 47.64% this quarter and weak long-term fundamentals, including a negative return on equity and declining profits, suggest underlying challenges that may be contributing to the recent price drop.
In the broader market context, while the Sensex has gained 2.09% over the past week, Arunjyoti Bio's performance indicates a significant divergence, particularly as it has underperformed the market over the past year with a return of -18.52% compared to the benchmark's positive return of 3.95%. This underperformance, coupled with weak financial results and a high valuation relative to peers, paints a concerning picture for investors. The stock's recent decline may reflect market sentiment responding to these negative indicators, despite some short-term gains.