Why is Times Guaranty falling/rising?

As of 08-Jul, Times Guaranty Ltd's stock price is rising, currently at 190.05, reflecting an increase of 16.0 or 9.19%. The stock has shown strong performance today, outperforming its sector by 9.24% and achieving a consecutive gain over the last two days with a total return of 10.11%. Despite opening with a loss of 3.62%, it reached an intraday high of Rs 199, indicating significant volatility with a wide trading range of Rs 31.25. Over the past year, the stock has generated a remarkable 46.19% return, significantly outpacing the BSE500 index, and has consistently outperformed the benchmark over the last three years. Additionally, institutional investors have increased their stake in the company, which may contribute to positive sentiment around the stock.
In the broader market context, Times Guaranty's short-term return of 13.43% over the past week stands in stark contrast to the Sensex, which has only gained 0.02% during the same period. This substantial outperformance highlights the stock's strength relative to the market. However, it is important to note that there are concerns regarding the company's long-term fundamental strength, as indicated by a low average return on equity of 6.13% and a high price-to-book value ratio. Despite these concerns, the recent gains and increased institutional participation suggest a positive outlook in the short term, even as the stock faces challenges in sustaining long-term growth.