Why is Raj Television falling/rising?

As of 30-Jul, Raj Television Network Ltd is experiencing a decline in its stock price, currently at Rs 42.61, reflecting a decrease of Rs 0.89 or 2.05%. The stock has underperformed significantly, with a 1-week return of -3.71% and a 1-month return of -7.05%. Today's performance indicates that it is close to its 52-week low, just 1.17% away from Rs 42.11, and it has been losing for the last two days, resulting in a total decline of -4.53%. The stock is trading below all its moving averages, and there has been a decrease in investor participation, with delivery volume falling by -2.56% compared to the 5-day average. The company is also facing significant operational challenges, including negative EBITDA and weak long-term fundamentals, which contribute to its poor profitability and ability to service debt.
In the broader market context, Raj Television's performance contrasts sharply with the benchmark Sensex, which has shown a positive return of +4.28% year-to-date. The stock's long-term performance has been particularly troubling, with a staggering -46.74% decline year-to-date and -42.26% over the past year, indicating a consistent underperformance compared to the broader market. This negative trend is compounded by the company's recent financial results, which show significant declines in net sales and profitability, further solidifying the perception of the stock as a risky investment.