Why is Axis Bank falling/rising?

As of 18-Aug, Axis Bank Ltd. is experiencing a price increase, currently at 1,080.95, reflecting a rise of 13.45 or 1.26%. The stock has shown a positive performance today, outperforming its sector by 0.46% and has gained consecutively over the last two days, with a total return of 1.32% during this period. The stock reached an intraday high of Rs 1089.6, indicating strong investor interest, as evidenced by a significant increase in delivery volume. Despite a year-to-date return of 1.17%, the stock has underperformed over the last month and year, with declines of 1.65% and 7.39%, respectively. However, the company maintains strong fundamentals, including a low Gross NPA ratio of 1.57% and impressive long-term net profit growth at an annual rate of 80.38%, which supports its fair valuation compared to peers.
In the broader market context, Axis Bank's short-term return of 0.95% over the past week has outperformed the Sensex, which gained 0.83% during the same period. While the stock has faced challenges in the longer term, including a negative return over the past year, the high institutional holdings at 85.02% suggest confidence among larger investors who can better analyze the company's fundamentals. This institutional backing, combined with rising investor participation and liquidity, may contribute to the stock's recent upward movement despite its historical underperformance relative to broader indices.