Why is Saregama India falling/rising?

As of 19-Aug, Saregama India Ltd's stock price is currently at 483.00, reflecting a decrease of 2.5, or 0.51%. The stock has underperformed its sector by 1.81% today and is trading below all key moving averages, indicating a bearish trend. Additionally, the delivery volume has significantly dropped by 39.06% compared to the 5-day average, suggesting a decline in investor participation. Over the past month, the stock has seen a decline of 5.16%, while its year-to-date performance shows a modest gain of 4.20%. However, the stock has generated a negative return of 8.11% over the past year, indicating consistent underperformance against the benchmark indices. The company's recent quarterly results have also been disappointing, with net sales and profit after tax falling significantly compared to previous averages, contributing to a perception of an expensive valuation relative to its peers.
In the broader market context, Saregama India has underperformed the Sensex, which has risen by 1.76% over the past week, while Saregama's return for the same period is only 0.73%. This trend of underperformance has been consistent, as the stock has lagged behind the BSE500 in each of the last three annual periods. Despite having a low debt-to-equity ratio and high institutional holdings, which typically indicate stability, the recent flat results and high price-to-book value ratio have raised concerns among investors. The combination of these factors has led to a lack of confidence in the stock's future performance, contributing to its current decline.