Why is Canara Bank falling/rising?

As of 19-Sep, Canara Bank's stock price is rising, currently at Rs 117.70, reflecting an increase of Rs 2.3 or 1.99%. The stock has shown strong performance, being only 1.36% away from its 52-week high of Rs 119.3. It outperformed its sector by 0.77% today and reached an intraday high of Rs 118.45, indicating positive investor sentiment. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a strong upward trend. The stock has also demonstrated impressive returns over various periods, including a 6.08% increase over the past week and a 17.52% rise year-to-date, significantly outperforming the Sensex during the same timeframe.
In the broader market context, Canara Bank's short-term return of 6.08% over the past week contrasts sharply with the Sensex's modest gain of 0.88%, highlighting the stock's strong relative performance. The bank's robust fundamentals, such as a low Gross NPA ratio of 2.69% and a high dividend yield of 3.47%, further bolster investor confidence. The company has shown consistent growth, with a remarkable 59.37% CAGR in net profits and a PEG ratio of 0.3, indicating attractive valuation compared to peers. High institutional holdings at 22.8% suggest that informed investors are backing the stock, contributing to its upward momentum. Overall, these factors collectively explain the rising trend in Canara Bank's stock price.