Why is Saregama India falling/rising?

As of 28-Aug, Saregama India Ltd's stock price is currently at 480.95, reflecting an increase of 1.65 (0.34%). The stock has shown a trend reversal by gaining after two consecutive days of decline. It has outperformed its sector by 1.89% today, with a notable rise in delivery volume, which increased by 41.26% against the 5-day average. However, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has decreased by 0.30%, while it has gained 1.28% over the past month. Despite a year-to-date return of 3.75%, the stock has underperformed over the last year with a decline of 8.06%. Additionally, the company has a low debt-to-equity ratio and high institutional holdings, which have increased by 0.82% over the previous quarter, indicating a level of confidence among institutional investors.
In the broader market context, Saregama India has underperformed the Sensex, which has declined by 2.34% over the past week and 1.00% over the past month. The stock's consistent underperformance against the benchmark over the last three years, coupled with flat results in its latest quarterly earnings, has raised concerns about its valuation, as it trades at a premium compared to its peers. The company's return on equity stands at 12.7, and its price-to-book value is 5.9, suggesting it may be overvalued given its recent profit growth of only 4.9%. Overall, while there are some positive indicators such as rising investor participation and institutional confidence, the stock's recent performance and valuation concerns contribute to a mixed outlook.