Why is Zee Media falling/rising?

As of 13-Aug, Zee Media Corporation Ltd's stock price is currently at 12.92, reflecting an increase of 0.14 or 1.1%. Today's performance indicates that the stock has underperformed its sector by 0.36%. While the stock is higher than its 5-day moving averages, it remains lower than its 20-day, 50-day, 100-day, and 200-day moving averages. Notably, there has been a significant decline in investor participation, with delivery volume dropping by 34.05% compared to the 5-day average. Despite these challenges, the company reported positive results for the quarter ending June 25, with its operating profit to interest ratio at its highest and net sales reaching Rs 182.36 crore. Additionally, promoter confidence has increased, as they raised their stake by 2.28%, indicating optimism about the company's future.
In the broader market context, Zee Media's short-term return of +1.25% over the past week contrasts with the Sensex, which has remained nearly flat at -0.01%. However, the stock has struggled over longer periods, with a year-to-date decline of 29.21% compared to the Sensex's gain of 3.07%. The company's long-term fundamentals are concerning, evidenced by a -212.61% CAGR growth in operating profits over the last five years and a negative EBITDA, which suggests that the stock is trading at a risky valuation. This consistent underperformance against the benchmark over the last three years further complicates its outlook, despite recent positive indicators.