Why is Zee Entertainmen falling/rising?

As of 21-Aug, Zee Entertainment Enterprises Ltd is currently priced at 117.05, reflecting a decrease of 0.6, or 0.51%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days with a total decline of 0.64%. In terms of performance, the stock has underperformed significantly over the past month with a return of -17.51%, while the benchmark Sensex has only decreased by 0.24%. Despite a relatively attractive valuation with a low debt-to-equity ratio and a high return on equity, the stock's recent performance has been hindered by poor long-term growth, as evidenced by a mere 1.45% annual growth in net sales over the last five years and disappointing quarterly results.
Broader market context indicates that while Zee Entertainment's stock has outperformed its sector by 0.76% today, it has consistently underperformed against the benchmark over the last three years, generating a return of -16.00% compared to the Sensex's positive performance of 1.35% over the same period. The stock's liquidity remains adequate, but a significant drop in delivery volume suggests waning investor interest. Additionally, the high institutional holdings, which have increased by 2.85% in the previous quarter, may not be enough to counterbalance the negative sentiment stemming from the company's flat quarterly results and overall underperformance in the market.