Why is Zee Entertainmen falling/rising?

As of 10-Nov, Zee Entertainment Enterprises Ltd is experiencing a decline in its stock price, currently at 97.65, reflecting a decrease of 1.2 (-1.21%). The stock has underperformed its sector by 0.76% today and has been on a downward trend for the last three days, with a total drop of 4.22% during this period. Additionally, the stock is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment. Over the past year, the stock has generated a return of -20.32%, significantly underperforming the benchmark, while the company's profits have risen by 40.4%. Despite a low debt-to-equity ratio and healthy long-term growth in operating profit, the recent negative financial results, including a 36.15% decline in PAT and the lowest PBDIT in the last quarter, have contributed to the stock's recent struggles.
In the broader market context, Zee Entertainment's short-term performance has been notably poor compared to the benchmark, with a 1-week return of -2.98% against the Sensex's -0.53%. This consistent underperformance over the last three years, coupled with high institutional holdings at 39.46%, suggests that while institutional investors may have confidence in the company's fundamentals, the market sentiment remains negative. The stock's liquidity is adequate for trading, but the falling investor participation, as indicated by a decrease in delivery volume, further exacerbates the downward pressure on the stock price. Overall, the combination of disappointing financial results and a lack of positive momentum in the market has led to the stock's decline.