Why is Tips Music falling/rising?

As of 28-Jul, Tips Music Ltd's stock price is currently at 600.45, reflecting a decrease of 12.8 points or 2.09%. The stock has underperformed its sector today by 1.41% and has experienced a consecutive decline over the last two days, totaling a drop of 3.8%. It has also touched an intraday low of Rs 595.9. The stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Despite a strong long-term fundamental strength characterized by a high average Return on Equity (ROE) of 61.93% and healthy operating profit growth, the recent flat results in March 2025, including a significant drop in profit before tax and profit after tax compared to previous quarters, have negatively impacted investor sentiment.
In the broader market context, Tips Music Ltd has underperformed compared to the Sensex, with a 1-week return of -5.44% against the benchmark's -1.59% and a 1-month return of -10.79% compared to the Sensex's -3.77%. This underperformance highlights the stock's struggles in the current market environment, despite its impressive long-term growth metrics. The stock's high valuation, reflected in a Price to Book Value of 36.6, further complicates its appeal, especially as it trades at a premium compared to its peers. Overall, the combination of recent poor financial results and high valuation concerns has contributed to the stock's decline.