Why is Nuvama Wealth falling/rising?

As of 17-Jul, Nuvama Wealth Management Ltd's stock price is rising, currently at Rs 7,815.00, reflecting an increase of Rs 292.0 or 3.88%. The stock has shown strong performance recently, outperforming its sector by 4.21% today and achieving a consecutive gain over the last four days, with a total return of 6.67% during this period. It has also been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has generated impressive returns over various periods, including a 59.77% increase over the past year, significantly outpacing the market's return of 1.91%. The company's strong fundamentals, such as a robust average Return on Equity (ROE) of 28.26% and consistent positive results over the last six quarters, further bolster investor confidence.
In the broader market context, Nuvama's short-term return of 6.08% over the past week contrasts sharply with the Sensex, which has declined by 1.12% during the same period. This indicates that Nuvama is not only performing well relative to its own historical performance but also significantly better than the overall market. However, it is important to note that 62.8% of promoter shares are pledged, which could pose a risk in a declining market. Despite this concern, the stock's strong growth in net sales and operating profit, along with rising investor participation, suggests a positive outlook that is driving the stock's recent upward movement.