Why is Saregama India falling/rising?

As of 23-Sep, Saregama India Ltd's stock is currently priced at 478.10, reflecting a decrease of 6.45 points or 1.33%. The stock has been underperforming, having fallen consecutively for the last two days, resulting in a total decline of 2.7% during this period. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The delivery volume has also seen a significant drop of 62.04% compared to the 5-day average, indicating a decrease in investor participation. Despite having a low debt-to-equity ratio and high institutional holdings, the company's recent financial performance has been disappointing, with net sales and profit after tax both falling significantly compared to previous quarters.
In the broader market context, Saregama India's short-term performance has been notably weaker than the benchmark, with a 1-week return of -3.38% compared to the Sensex's -0.34%. Over the past month, the stock has declined by 2.43%, while the Sensex has gained 0.98%. This underperformance is compounded by the company's flat results in June, which have led to concerns about its valuation, as indicated by a high price-to-book ratio and a poor PEG ratio. Overall, the combination of declining sales, reduced investor interest, and the stock's inability to keep pace with market benchmarks contributes to its current downward trajectory.