Why is Zee Entertainmen falling/rising?

As of 12-Nov, Zee Entertainment Enterprises Ltd is experiencing a price increase, currently at Rs 103.40, reflecting a rise of Rs 4.55 or 4.6%. The stock has shown positive momentum recently, gaining 5.89% over the last two days and outperforming its sector by 2.79% today. Despite a challenging month with a decline of 7.18%, the stock has outperformed the Sensex over the past week, which saw a return of 1.42% compared to the Sensex's 1.21%. The company benefits from a low debt-to-equity ratio and healthy long-term growth, with operating profits increasing at an annual rate of 56.01%. However, it has faced negative results recently, including a significant drop in PAT over the last six months and a low debtors turnover ratio.
Broader Market Context: In the context of the broader market, Zee Entertainment's recent performance contrasts with the benchmark, as it has consistently underperformed over the last three years, generating a return of -13.15% compared to the Sensex's 8.10% year-to-date. While the stock's short-term gains are notable, its long-term trajectory remains concerning, particularly given the significant underperformance against the benchmark in recent years. The high institutional holdings suggest confidence from larger investors, but the company's recent negative financial results may temper enthusiasm moving forward.