Why is CESC falling/rising?

As of 29-Jul, CESC Ltd's stock price is currently at 177.05, reflecting an increase of 3.2 or 1.84%. The stock has shown positive momentum recently, gaining 2.77% over the last two days and outperforming its sector by 1.35% today. Despite a slight decline of 0.73% over the past week, the stock has performed well over the past month with a return of 2.94%. It has also demonstrated strong long-term performance, with a remarkable 129.79% increase over the last three years and a 5.99% rise over the past year. The stock's attractive valuation, indicated by a return on capital employed (ROCE) of 5.7 and a lower trading price compared to its peers, contributes positively to its recent price movement. However, a decline in investor participation, with delivery volume falling by 34.73% against the five-day average, could pose a concern for future performance.
In the broader market context, CESC's recent performance contrasts with the benchmark, as it has outperformed the Sensex, which has declined by 1.03% over the past week. While the stock has shown resilience and positive returns in the short term and long term, the overall market sentiment appears to be mixed, as evidenced by the Sensex's performance. The high institutional holdings at 36.12% suggest that knowledgeable investors are backing the stock, which may provide some stability amidst fluctuating market conditions. Overall, while CESC Ltd is experiencing a rise in its stock price, the broader market context indicates a cautious outlook due to declining investor participation and mixed performance relative to the benchmark.