Why is Saregama India falling/rising?

As of 04-Aug, Saregama India Ltd's stock price is currently at 475.00, reflecting an increase of 1.45 (0.31%). Despite this slight uptick today, the stock has shown a decline of 4.10% over the past month and a significant drop of 8.95% over the last year, indicating a trend of underperformance. The stock is trading below its moving averages across various time frames, which suggests a bearish sentiment. However, there has been a notable increase in investor participation, with delivery volume rising by 59.35% compared to the 5-day average. The company maintains a low debt-to-equity ratio and has seen an increase in institutional holdings, which may provide some support for the stock despite its recent poor financial performance, including a significant drop in net sales and profit.
In the broader market context, Saregama India's short-term performance has lagged behind the benchmark, with a 1-week return of +0.03% compared to the Sensex's +0.16%. This underperformance is consistent with the stock's trend over the past year and three years, where it has consistently generated negative returns relative to the benchmark. The stock's expensive valuation, indicated by a high price-to-book value and a PEG ratio of 9.4, further complicates its outlook, especially given the flat results reported in the latest quarter. Overall, while there are some positive indicators, the prevailing trends suggest that Saregama India is facing challenges that may hinder its recovery in the near term.