Why is Esha Media falling/rising?

As of 04-September, Esha Media Research Ltd has seen a current price increase of 0.66, representing a 1.97% rise. The stock has reached a new 52-week high of Rs.34.12 today and has been on a consecutive gain streak for the last 21 days, resulting in a remarkable 79.48% return over that period. Additionally, Esha Media is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. However, there has been a notable decline in investor participation, with delivery volume falling by 88.02% against the 5-day average, which could suggest a potential concern regarding sustainability of the price increase.
In the broader market context, Esha Media's short-term performance significantly outpaces the benchmark, with a 10.31% return over the past week compared to the Sensex's 0.80% gain. Year-to-date, the stock has surged by 116.77%, while the Sensex has only increased by 3.30%. This stark contrast highlights the stock's strong performance relative to the market, reinforcing investor confidence despite the recent drop in trading volume. Overall, the combination of substantial returns and a new high, alongside decreased participation, paints a complex picture of Esha Media's current market position.