Why is Saregama India falling/rising?

As of 29-Aug, Saregama India Ltd's stock price is currently at 483.60, reflecting an increase of 2.65 (0.55%). The stock has shown a positive performance today, outperforming its sector by 0.38% and has been gaining for the last two days, with a total return of 0.9% during this period. However, despite this recent uptick, the stock has experienced a decline of 1.31% over the past week and a modest increase of 0.33% over the past month. The company has a low debt-to-equity ratio and high institutional holdings at 21.9%, which have increased by 0.82% over the previous quarter. Nonetheless, the company reported flat results in its latest quarterly earnings, with significant declines in net sales and profit after tax compared to previous quarters, contributing to a perception of expensive valuation relative to its peers.
In the broader market context, Saregama India has underperformed against the benchmark Sensex, which has declined by 1.84% over the past week and 1.88% over the past month, while Saregama's year-to-date performance is better at 4.33% compared to the Sensex's 2.14%. However, the stock's consistent underperformance over the last three years, with a return of -6.95% compared to the benchmark's -2.83%, raises concerns among investors. The falling investor participation, indicated by a 24.21% drop in delivery volume, further suggests a cautious sentiment in the market, despite the stock's recent gains.