Why is Zee Entertainmen falling/rising?

As of 24-Jun, Zee Entertainment Enterprises Ltd's stock price is currently at Rs 143.65, reflecting a decline of Rs 5.85 or 3.91%. The stock has underperformed its sector today by 2.62% and has experienced a trend reversal after two consecutive days of gains, touching an intraday low of Rs 143.05. Despite this decline, the stock has shown positive performance over the past week and month, with returns of 4.59% and 12.23%, respectively. The company has demonstrated strong fundamentals, including a low debt-to-equity ratio and positive results over the last five quarters, which may support its valuation despite the recent price drop. However, the stock's long-term growth prospects are hindered by a negative annual operating profit growth rate of -3.30% over the last five years, contributing to its recent underperformance against benchmarks.
In the broader market context, Zee Entertainment's short-term performance has outpaced the Sensex, which has only gained 0.58% over the past week and 0.41% over the past month. However, the stock has consistently underperformed against the benchmark over the last three years, with a return of -4.96% in the past year compared to the Sensex's 6.10% gain. This persistent underperformance may weigh on investor sentiment, despite the company's strong institutional backing and attractive valuation metrics. The rising investor participation, indicated by a significant increase in delivery volume, suggests some confidence in the stock, but the overall market context remains challenging for Zee Entertainment.