Hi Panna,
Think of Pp and Ppk as the overall process performance - This performance assessment does not consider any sub-grouping. The formulae use the overall standard deviation, which has larger variation. This larger variation is due to the fact that between groups variation is bigger than within groups variation. Do remember that when we talk about grouping, it refers to logical subgrouping of continuous data in such a way that groups carry data that is homogenous.
Think of Cp and Cpk as the potantial process capability - This performance assessment considers sub-grouping. The formulae use the within group standard deviation, which is lesser spread when compared to overall standard deviation. Cp and Cpk highlights capability that will be realised when between group differences are completely eliminated. Again, remember that we are refering to continuous data only when talking about these indices.
When you go through Black Belt training, you will learn more nuances that relate to Process Capability assessment.
Please note that none of these indicators relate to process stability. Stability assessment will require use of trend charts, run charts or control charts.
Hope this helps.