Why is Zee Entertainmen falling/rising?

As of 04-Sep, Zee Entertainment Enterprises Ltd is currently priced at 114.75, reflecting a decline of 1.45, or 1.25%. The stock has underperformed its sector today by 0.7% and has experienced a trend reversal after two consecutive days of gains. It is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, investor participation has decreased, with delivery volume falling by 40.73% compared to the 5-day average. Over the past year, the stock has generated a return of -15.41%, while its profits have increased by 63.9%, suggesting a disconnect between stock performance and underlying profitability. Despite a low debt-to-equity ratio and high institutional holdings, the stock's long-term growth prospects appear poor, as evidenced by stagnant net sales growth and recent flat quarterly results.
In the broader market context, the stock has underperformed the benchmark Sensex, which has gained 0.80% over the past week, while Zee Entertainment's stock has declined by 2.92%. This consistent underperformance against the benchmark over the last three years, coupled with a significant drop in quarterly profits and sales, has contributed to negative sentiment among investors. Although the company has a strong market position and attractive valuation metrics, the lack of growth in net sales and recent financial results have overshadowed these positives, leading to a decline in stock price.