Why is CESC falling/rising?

As of 15-Oct, CESC Ltd's stock price is currently at 176.10, reflecting an increase of 8.7 or 5.2%. The stock has shown a positive trend today, outperforming its sector by 3.98% and reversing a two-day decline. It reached an intraday high of Rs 176.8, indicating strong momentum. Additionally, CESC is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bullish trend. However, there has been a decline in investor participation, with delivery volume falling by 10.07% compared to the 5-day average. Despite a year-to-date return of -5.22% and a one-year return of -9.32%, the stock's attractive valuation and high institutional holdings at 36.32% may support its recent price increase.
Broader market context shows that CESC's short-term performance over the past week has been significantly better than the benchmark Sensex, which only increased by 1.02%, while CESC rose by 5.96%. This outperformance in the short term highlights the stock's relative strength in the market. However, the stock's year-to-date and one-year returns lag behind the Sensex's gains of 5.72% and 0.96%, respectively. The combination of attractive valuation metrics and institutional support suggests that while the stock has faced challenges, recent movements may indicate a potential recovery phase.