Why is Zee Entertainmen falling/rising?

As of 25-Aug, Zee Entertainment Enterprises Ltd's stock price is currently at Rs 120.45, reflecting a decrease of Rs 3.0 or 2.43%. Today's performance indicates that the stock has underperformed its sector by 1.01%, with an intraday low of Rs 120.15, which represents a decline of 2.67%. Over the past week, the stock has shown a positive return of 3.75%, but it has struggled in the longer term, with a 1-month return of -2.67% and a year-to-date return of -0.74%. Despite a low debt-to-equity ratio and an attractive valuation with a PEG ratio of 0.2, the stock's recent movement is negatively impacted by poor quarterly results, including a significant drop in PAT and net sales. Additionally, the stock has consistently underperformed against benchmarks over the last three years, contributing to investor concerns.
In the broader market context, while Zee Entertainment's short-term performance has been positive compared to the benchmark, its longer-term returns are concerning. The Sensex has shown a slight increase of 0.45% over the past week, while Zee's performance has been overshadowed by its annual return of -11.82% compared to the benchmark's positive return of 0.68%. The stock's high institutional holdings at 41.68% suggest that knowledgeable investors are still interested, but the overall market sentiment remains cautious due to the company's flat growth in net sales and declining profitability in recent quarters.