Why is Honasa Consumer falling/rising?

As of 16-Jul, Honasa Consumer Ltd's stock price is currently at 297.15, reflecting a decrease of 2.3, or 0.77%. The stock has underperformed its sector today by 1.15%, and its delivery volume has fallen significantly, down 27.47% compared to the 5-day average. Over the past week, the stock has declined by 1.59%, and it has seen a more substantial drop of 4.08% over the past month. Despite a year-to-date increase of 17.50%, the stock has experienced a significant decline of 37.83% over the past year. The company maintains a low debt-to-equity ratio and has high institutional holdings at 34.04%, indicating a stable financial position and confidence from larger investors, which could provide some support against further declines.
In the broader market context, the Sensex has decreased by 1.08% over the past week, suggesting that the overall market sentiment is slightly negative but not as severe as Honasa's performance. The stock's recent underperformance relative to the benchmark indicates that it is facing challenges that may not be affecting the broader market to the same extent. While the company has shown resilience with positive year-to-date returns, the recent trends in delivery volume and short-term performance suggest that investor confidence may be waning, contributing to the stock's current downward movement.