Why is Nuvama Wealth falling/rising?

As of 24-Jul, Nuvama Wealth Management Ltd's stock price is currently at 7,759.55, reflecting an increase of 30.5, or 0.39%. The stock has shown strong performance in the last month with an increase of 8.90%, and it has outperformed the sector today by 1.13%. Despite a recent decline in investor participation, as evidenced by a 47.51% drop in delivery volume compared to the 5-day average, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has demonstrated robust long-term growth, with net sales growing at an annual rate of 34.40% and operating profit at 52.93%. However, the stock's high valuation, indicated by a Price to Book Value of 8 and a PEG ratio of 0.5, raises concerns about its expense relative to earnings growth. Additionally, the fact that 62.8% of promoter shares are pledged could exert downward pressure on the stock in a falling market.
In the broader market context, Nuvama's performance over the past year has significantly outpaced the benchmark, generating a return of 47.32% compared to the BSE500's return of only 0.99%. While the stock has shown strong long-term fundamentals and positive quarterly results, the recent decline in delivery volume and high promoter share pledging may create caution among investors. The stock's performance in the short term, particularly its outperformance against the sector today, suggests that despite some risks, investor sentiment remains relatively positive, contributing to its current price rise.