Why is Raj Television falling/rising?

As of 24-Sep, Raj Television Network Ltd's stock price is currently at Rs 41.01, reflecting a decrease of Rs 0.21 or 0.51%. The stock has been underperforming recently, with a consecutive decline over the last two days, resulting in a total drop of 2.26%. It is also trading lower than its moving averages across various time frames, indicating a bearish trend. The stock is close to its 52-week low, just 2.34% away from Rs 40.05. Additionally, the company has shown weak long-term fundamental strength, evidenced by a significant decline in operating profits and a negative EBIT to interest ratio, which suggests challenges in servicing its debt. The stock's performance has been below par, generating a return of -18.53% over the past year, while its profits have increased by 76.8%, indicating a disconnect between stock performance and profitability.
In the broader market context, Raj Television's short-term performance has been notably worse than the benchmark, with a 1-week return of -3.23% compared to the Sensex's decline of only 1.18%. This underperformance is compounded by a significant drop in investor participation, with delivery volume falling by 49.27% against the 5-day average. The company's liquidity remains adequate for trading, but the overall sentiment appears negative due to the weak fundamentals and poor historical performance relative to the market. The combination of these factors contributes to the stock's current downward trajectory.