Why is Nuvama Wealth falling/rising?

As of 27-Jun, Nuvama Wealth Management Ltd's stock price is rising, currently at Rs 8,298.00, reflecting an increase of Rs 393.5 or 4.98%. The stock has recently hit a new 52-week and all-time high of Rs 8,405, showcasing a strong performance today, where it outperformed its sector by 4.89%. Over the past five days, the stock has gained 20.24%, and it is trading above all key moving averages, indicating a bullish trend. Additionally, the company has demonstrated strong long-term fundamentals, with a return on equity of 28.26% and significant growth in net sales and operating profit. However, it faces risks due to a high price-to-book value and a substantial percentage of promoter shares being pledged, which could exert downward pressure in adverse market conditions.
In the broader market context, Nuvama's short-term performance significantly outpaces the benchmark, with a 20.24% return over the past week compared to the Sensex's 2.00%. This stark contrast highlights the stock's market-beating performance, as it has generated a return of 68.62% over the past year, far exceeding the BSE 500's return of 4.10%. The rising investor participation, evidenced by a 162.26% increase in delivery volume, further supports the stock's upward momentum, suggesting strong market confidence in Nuvama Wealth Management Ltd amidst its impressive financial results.