Why is Nuvama Wealth falling/rising?

As of 30-Jul, Nuvama Wealth Management Ltd's stock price is currently at Rs 7,411.10, reflecting an increase of Rs 171.1 or 2.36%. Today's price summary indicates that the stock has outperformed its sector by 2.26% and has experienced a trend reversal, gaining after three consecutive days of decline. The stock reached an intraday high of Rs 7,442.35, which is a 2.79% increase. Despite this positive movement, the stock has shown a decline of 4.11% over the past week and 9.87% over the past month. However, it has demonstrated strong long-term fundamentals, with a return on equity of 28.26% and consistent positive results over the last six quarters, including significant growth in net sales and operating profit.
In the broader market context, while Nuvama's stock has risen today, it has underperformed the benchmark Sensex in the short term, which has only declined by 1.50% over the past week. The stock's year-to-date performance shows a gain of 7.00%, surpassing the Sensex's 4.28% increase. Despite recent volatility and a decrease in investor participation, the company's strong fundamentals and market-beating performance over the last year, where it generated a return of 16.82% compared to the BSE500's -2.34%, suggest that the stock's current rise may be a correction following its recent downturn.