Why is Esha Media falling/rising?

As of 29-Aug, Esha Media Research Ltd's stock price is currently at Rs. 31.54, reflecting an increase of 0.61 or 1.97%. The stock has reached a new 52-week high today and has been on a consecutive gain streak for the last 21 days, resulting in a remarkable return of 101.53% over this period. Despite this positive momentum, the company faces challenges, including a negative book value and weak long-term fundamental strength, as evidenced by stagnant operating profit and high debt levels. Additionally, while the stock has outperformed the BSE500 in various timeframes, its profits have significantly declined by 466% over the past year, indicating underlying risks.
In the broader market context, Esha Media's short-term performance stands in stark contrast to the Sensex, which has declined by 1.84% over the past week. The stock's impressive gains of 8.16% in the last week further highlight its strong performance relative to the benchmark. However, the falling investor participation, with a significant drop in delivery volume, raises concerns about the sustainability of this upward trend. Overall, while Esha Media has shown remarkable short-term gains, the combination of its financial weaknesses and declining investor engagement suggests a complex outlook for the stock's future performance.