Why is Netwrk.18 Media falling/rising?

As of 28-Jul, Network 18 Media & Investments Ltd is experiencing a decline in its stock price, currently at Rs 56.28, which reflects a decrease of Rs 1.58 or 2.73%. The stock has underperformed its sector by 0.6% today and has been on a downward trend for the last three days, accumulating a total decline of 6.36%. The stock's performance over various periods shows a 1-week decline of 5.73%, a 1-month decline of 4.48%, and a significant year-to-date drop of 21.12%. Additionally, the company has reported negative results for the last six consecutive quarters, with a net profit after tax of Rs -22.86 crore, and a concerning debt-to-equity ratio, indicating weak long-term fundamental strength. The stock's negative EBITDA and poor historical growth rates further contribute to its current downward trajectory.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has underperformed the BSE500 index, which has seen a decline of only 2.52% over the past year compared to Network 18's staggering 38.34% drop. The TV Broadcasting & Software Production sector has also faced a decline of 2.13%, reflecting broader challenges within the industry. Furthermore, a notable decrease in investor participation, with delivery volume falling by 29.65% against the 5-day average, suggests waning interest in the stock. This combination of poor financial performance, high debt levels, and negative market sentiment has contributed to the stock's ongoing decline.