Why is Zee Entertainmen falling/rising?

As of 27-Oct, Zee Entertainment Enterprises Ltd is experiencing a decline in its stock price, currently at 103.10, reflecting a decrease of 1.7 or 1.62%. The stock has underperformed its sector by 0.6% today and has been on a downward trend for the last two days, accumulating a total loss of 2.51%. Over the past week, the stock has decreased by 1.01%, and its performance over the last month shows a significant drop of 8.44%. Despite a high dividend yield of 3.27% and a low debt-to-equity ratio, the company has faced negative results in its latest quarterly report, with a 60% decline in profit after tax compared to previous quarters. This underperformance is compounded by a consistent trend of negative returns over the past year and three years, where the stock has lost 13.83% and 61.23%, respectively.
In the broader market context, Zee Entertainment's recent performance contrasts sharply with the Sensex, which has gained 0.49% over the past week and 5.41% over the past month. The stock's continued decline highlights its struggle against the benchmark, particularly given its substantial underperformance over the last three years. While there has been rising investor participation, as indicated by a 25.84% increase in delivery volume, the overall sentiment remains negative due to disappointing financial results and a lack of momentum in stock price recovery. The company's high institutional holdings may provide some support, but the prevailing negative sentiment and recent financial performance suggest that investors are cautious about the stock's future prospects.