Why is Zee Media falling/rising?

As of 28-Aug, Zee Media Corporation Ltd's stock price is currently at 12.57, reflecting an increase of 0.14 or 1.13%. The stock has shown a trend reversal by gaining after two consecutive days of decline, outperforming its sector by 1.4% today. However, it is trading below all its moving averages, indicating a bearish trend. Over the past week, the stock has decreased by 0.87%, and it has significantly underperformed the benchmark Sensex, which fell by 2.34%. Despite positive results in June, including the highest operating profit to interest ratio and net sales, the company faces challenges such as a weak long-term fundamental strength and a negative EBITDA, which contribute to its overall risk profile.
Broader market context shows that while Zee Media's stock has experienced a slight uptick today, its year-to-date performance is down by 31.12%, contrasting sharply with the Sensex's gain of 2.48% during the same period. The stock has consistently underperformed against the benchmark over the last three years, with a return of -23.35% compared to the Sensex's 36.11%. The falling investor participation, evidenced by a significant drop in delivery volume, further reflects the cautious sentiment surrounding the stock, despite the recent increase in promoter confidence with a 2.28% stake increase.