Why is Nuvama Wealth falling/rising?

As of 03-Jul, Nuvama Wealth Management Ltd's stock price is rising, currently at Rs 8,245.00, reflecting an increase of Rs 171.5 or 2.12%. The stock has shown strong performance recently, with a 4.31% increase over the past week and a remarkable 14.10% rise over the last month. It is currently trading close to its 52-week high, just 3.21% away from Rs 8,510. The stock has outperformed its sector by 2.64% today and is trading above all its key moving averages, indicating a bullish trend. However, there has been a decline in investor participation, with delivery volume falling by 26.66% against the five-day average. The company has demonstrated strong long-term fundamentals, with a return on equity of 28.26% and consistent growth in net sales and operating profit, which supports its upward price movement.
In the broader market context, Nuvama's recent performance stands out significantly against the benchmark, as it has generated a return of 64.53% over the past year, compared to the BSE500's return of only 2.20%. This substantial outperformance highlights the stock's strength relative to the market. Despite the positive indicators, there are risks associated with high promoter share pledges, which could exert downward pressure in adverse market conditions. Nonetheless, the overall strong fundamentals and market-beating performance contribute to the stock's upward trajectory.