Why is Saregama India falling/rising?

As of 24-Sep, Saregama India Ltd's stock price is currently at 475.65, reflecting a decrease of 5.7 points or 1.18%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 3.2% during this period. Although the stock opened with a gain of 2.63% today and reached an intraday high of Rs 494, it ultimately closed lower. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, while the company has a low debt-to-equity ratio and high institutional holdings, the recent flat quarterly results, including a significant drop in net sales and profit after tax, have contributed to negative sentiment around the stock.
In the broader market context, Saregama India's short-term performance has been weaker than the benchmark, as it has declined by 3.70% over the past week compared to a 1.18% drop in the Sensex. This underperformance is compounded by the stock's negative returns over the past year, where it has decreased by 10.63%, contrasting with the Sensex's decline of only 3.77%. The stock's expensive valuation, reflected in its high price-to-book value and a PEG ratio of 9.4, further exacerbates investor concerns, particularly in light of its below-par performance both in the near term and long term.