Why is Picturehouse falling/rising?

As of 25-Jul, Picturehouse Media Ltd's stock price is currently at 7.76, reflecting an increase of 0.31 or 4.16%. The stock has been gaining momentum recently, with a consecutive gain over the last two days resulting in a total return of 9.6%. Additionally, it has outperformed its sector by 6.78% today. Despite a year-to-date decline of 20.41% and a one-year return of -19.59%, the company reported positive quarterly results with the highest profit after tax at Rs 2.62 crore and earnings per share at Rs 0.50. However, the company faces challenges, including a negative book value and a high debt-to-equity ratio, indicating weak long-term fundamental strength and risky trading conditions.
In the broader market context, the stock's short-term performance has been favorable compared to the benchmark, as it has gained 8.23% over the past week while the Sensex has declined by 0.36%. Despite this short-term outperformance, the stock's long-term outlook remains concerning, with significant underperformance against the BSE500 over the last three years, one year, and three months. The film production, distribution, and entertainment sector has also seen a decline of 2.65%, which may contribute to the overall market sentiment affecting Picturehouse Media Ltd.