Why is Honasa Consumer falling/rising?

As of 02-Jul, Honasa Consumer Ltd's stock price is currently at Rs 295.40, reflecting a decline of Rs 6.8 or 2.25%. The stock has been underperforming, having fallen consecutively for the last five days, resulting in a total decline of 5.62% over that period. Today's trading saw the stock reach an intraday low of Rs 292.85, indicating a drop of 3.09%. Additionally, the stock's performance over the past month shows a decrease of 6.15%, and it has significantly underperformed the market over the last year with a return of -32.00%. The company's financial health is concerning, as it has experienced a poor long-term growth rate in operating profit, and its profits have fallen by 47% over the past year. The high institutional holdings at 34.04% suggest that knowledgeable investors are aware of these issues, which may contribute to the stock's downward pressure.
In the broader market context, the Sensex has shown a positive return of 0.79% over the past week and 2.50% over the past month, contrasting sharply with Honasa Consumer's negative performance. The stock's recent decline is further exacerbated by falling investor participation, as evidenced by a 6.58% drop in delivery volume compared to the five-day average. While the stock is liquid enough for trading, its current valuation appears expensive given its low return on equity of 6.2 and a price-to-book value of 8.1. This combination of poor financial performance, declining investor interest, and underperformance relative to the broader market indicates that the stock is facing significant challenges, leading to its current downward trend.