Why is Saregama India falling/rising?

As of 06-Nov, Saregama India Ltd is experiencing a decline in its stock price, currently at Rs 425.00, which reflects a decrease of Rs 27.3 or 6.04%. The stock has been underperforming recently, having fallen 6.74% over the last two days and is now just 1.73% away from its 52-week low. Key performance metrics indicate that the stock has underperformed its sector by 4.44% today, and it is trading below all significant moving averages. Additionally, the company reported negative financial results for the quarter ending September 25, with net sales falling by 21.5% compared to the previous four-quarter average and a decline in profit after tax by 12.6%. Despite having a low debt-to-equity ratio and high institutional holdings, the stock's valuation appears expensive relative to its peers, contributing to its recent downward trend. In the broader market context, Saregama India's short-term performance has been notably poor, with a 7.58% decline over the past week, while the benchmark Sensex has only decreased by 1.30%. Over the past month, Saregama has dropped 8.76%, contrasting with a 1.86% increase in the Sensex. This underperformance is further highlighted by the stock's negative returns over the past year, down 14.83%, compared to a 3.65% gain in the benchmark. The combination of disappointing financial results, high volatility, and a lack of positive momentum in the broader market has contributed to the stock's current decline.