Why is Zee Entertainmen falling/rising?

As of 07-Aug, Zee Entertainment Enterprises Ltd is currently priced at 114.65, reflecting an increase of 2.35 or 2.09%. The stock has shown a trend reversal, gaining after two consecutive days of decline. Today, it outperformed its sector by 1.45% and reached an intraday high of Rs 115. However, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a recent drop in delivery volume by 30.33% against the 5-day average, the company maintains a low debt-to-equity ratio and an attractive valuation, with profits rising by 63.9% over the past year, contributing to a PEG ratio of 0.2. Additionally, high institutional holdings at 41.68% indicate confidence from larger investors, further supporting the stock's recent price movement.
In the broader market context, Zee Entertainment's short-term performance has been relatively weak, with a 1-week return of -2.96%, compared to a slight decline of -0.69% in the Sensex. Over the past month, the stock has decreased by 20.93%, while the benchmark has only fallen by 3.38%. This disparity highlights the stock's underperformance relative to the market. Despite these challenges, the company's significant market capitalization and substantial share of the industry suggest that it remains a key player, which may help stabilize its price in the long run.