Why is Zee Media falling/rising?

As of 19-Sep, Zee Media Corporation Ltd's stock price is currently at 12.54, reflecting a slight increase of 0.04, or 0.32%. The stock has shown a consecutive gain over the last two days, rising by 0.4% during this period. However, despite this recent uptick, the stock has underperformed in the longer term, with a year-to-date decline of 31.29% and a 3-year decline of 28.34%. Positive factors contributing to the recent movement include strong operating profit and net sales reported in the latest quarter, alongside rising promoter confidence as they have increased their stake in the company by 2.28%. Conversely, the stock faces significant challenges, including weak long-term fundamental strength, negative EBITDA, and a poor ability to service debt, which may dampen investor sentiment.
In the broader market context, the stock's short-term performance of +0.16% over the past week is notably lower than the benchmark Sensex, which has increased by 0.88% during the same period. This underperformance is consistent with the stock's trend of lagging behind the benchmark over the last three years, where it has consistently generated negative returns compared to the BSE500. Additionally, a decline in investor participation, as indicated by a significant drop in delivery volume, suggests a lack of confidence among traders, which could further impact the stock's price movement negatively.