Why is Saregama India falling/rising?

As of 28-Jul, Saregama India Ltd is experiencing a decline in its stock price, currently at Rs 474.85, down by Rs 8.2 or 1.7%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 6.76% during this period. It is trading below all key moving averages, indicating a bearish trend. Additionally, the stock's performance over the past week and month shows a decline of 6.73% and 5.45%, respectively, while its year-to-date return is modestly positive at 2.44%. Despite some positive long-term growth indicators, such as a healthy operating profit growth rate of 31.41% and a low debt-to-equity ratio, the recent price movement reflects a lack of investor confidence, as evidenced by a significant drop in delivery volume.
In the broader market context, Saregama India's short-term performance has been worse than the benchmark Sensex, which has declined by only 1.59% over the past week and 3.77% over the past month. This underperformance relative to the benchmark suggests that investor sentiment towards Saregama India is particularly weak at this time. The high institutional holdings at 21.9% may provide some stability, as these investors tend to have better analytical capabilities, but their recent increase in stake by only 0.82% does not seem to be enough to counteract the stock's downward trajectory. Overall, the combination of falling investor participation and negative short-term returns contributes to the stock's current decline.