Why is Esha Media falling/rising?

As of 03-September, Esha Media Research Ltd's stock price is rising, currently at Rs. 33.46, reflecting an increase of 0.65 or 1.98%. The stock has recently hit a new 52-week high and has been on a consecutive gain streak for the last 21 days, resulting in an impressive return of 84.76% over that period. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong short-term momentum. However, despite this positive performance, the company faces challenges such as a negative book value and a high debt-to-equity ratio, which suggest weak long-term fundamental strength. Additionally, while the stock has generated a return of 60.94% over the past year, its profits have significantly declined by 466%, raising concerns about sustainability.
In the broader market context, Esha Media's short-term performance has notably outperformed the Sensex, which has seen a slight decline of 0.27% over the past week. This stark contrast highlights the stock's strong market-beating performance in both the near term and long term, as it has outperformed the BSE500 over various time frames. However, the falling investor participation, as indicated by a decrease in delivery volume, could signal potential caution among investors despite the stock's recent gains. Overall, while Esha Media is experiencing a rise in stock price, the underlying financial challenges and market dynamics present a complex picture for future performance.