Why is Honasa Consumer falling/rising?

As of 01-Jul, Honasa Consumer Ltd is experiencing a decline in its stock price, currently at Rs 302.20, which reflects a decrease of Rs 7.3 or 2.36%. The stock has been underperforming, having lost 3.75% over the last four days, and it touched an intraday low of Rs 301.15. In the past week, the stock has decreased by 3.40%, and over the last month, it has fallen by 4.61%. Additionally, the company's operating profit has seen a significant decline, with a negative annual growth rate of 21.73% over the past five years, and its profits have fallen by 47% in the last year. The stock's valuation appears expensive with a Price to Book Value of 8.3, and despite high institutional holdings at 34.04%, the overall sentiment remains negative due to poor long-term growth prospects.
In the broader market context, the stock has underperformed compared to the benchmark Sensex, which has gained 2.00% over the past week and 2.76% over the past month. While the stock has shown a year-to-date return of 19.49%, it has significantly lagged behind the market over the past year, with a return of -31.50% compared to the Sensex's 5.31%. The falling investor participation, as indicated by a 76.01% drop in delivery volume, further suggests a lack of confidence among retail investors, contributing to the stock's downward trend. Overall, the combination of poor financial performance, high valuation, and negative market sentiment has led to the stock's current decline.