Why is Zee Entertainmen falling/rising?

As of 26-Aug, Zee Entertainment Enterprises Ltd is experiencing a decline in its stock price, currently at Rs 118.20, which reflects a decrease of Rs 2.25 or 1.87%. The stock has been on a downward trend, having fallen for the last two days with a total return of -4.25% during this period. Additionally, the stock's performance over the past month shows a decline of 4.48%, while its year-to-date performance is down by 2.60%. Despite a low Debt to Equity ratio and an attractive valuation with a Price to Book Value of 1, the stock's returns over the past year have been negative at -12.67%, even as profits increased by 63.9%. The recent drop in delivery volume by 34.56% against the 5-day average indicates falling investor participation, which may contribute to the stock's price decline.
In the broader market context, Zee Entertainment's short-term performance contrasts with the benchmark Sensex, which has seen a decline of only 1.05% over the past week. This suggests that the stock is underperforming relative to the market. While the company has high institutional holdings at 41.68%, indicating confidence from larger investors, the overall market sentiment appears to be affecting its stock price negatively. The stock's liquidity remains adequate for trading, but the combination of declining returns and reduced investor participation may be contributing to the current downward movement in its stock price.