Why is Centrum Capital falling/rising?

As of 22-Aug, Centrum Capital Ltd is experiencing a price increase, currently at Rs 39.71, reflecting a rise of 1.21 (3.14%). The stock has shown strong performance recently, gaining 4.09% over the last two days and outperforming its sector by 3.58% today. It has also demonstrated positive returns over various periods, including a 20.11% increase year-to-date and a 51.28% rise over the past three years. However, despite these gains, the company faces challenges such as weak long-term fundamental strength, indicated by an average Return on Equity (ROE) of 0% and a high Price to Book Value ratio of 5.9, suggesting it is trading at a premium compared to peers.
In the broader market context, Centrum Capital's recent performance has outpaced the Sensex, which has only increased by 0.88% over the past week. While the stock has shown resilience and positive returns in the short term, the declining investor participation, with a significant drop in delivery volume, raises concerns about its sustainability. Additionally, the high percentage of pledged promoter shares could exert downward pressure in a falling market, which may affect investor sentiment moving forward.