Why is Esha Media falling/rising?

As of 05-Sep, Esha Media Research Ltd's stock price is currently at Rs. 34.80, reflecting an increase of 0.68 or 1.99%. The stock has recently hit a new 52-week high and has been on a positive trajectory, gaining for the last 21 days with a remarkable return of 74.35% over this 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 impressive performance, the company faces challenges such as a negative book value and a high debt-to-equity ratio, which contribute to its classification as having weak long-term fundamental strength. Additionally, while the stock has outperformed the BSE500 in various time frames, its profits have significantly declined by 466% over the past year, raising concerns about sustainability.
In the broader market context, Esha Media's short-term return of 10.34% over the past week significantly outpaces the Sensex, which has only increased by 1.13% in the same timeframe. This outperformance highlights the stock's strong appeal in the current market environment. However, the declining investor participation, as evidenced by an 88.02% drop in delivery volume, suggests that while the stock is currently rising, there may be underlying concerns that could affect its future performance. The combination of strong recent returns and significant long-term risks creates a complex picture for investors considering Esha Media's stock.