Why is City Union Bank falling/rising?

As of 17-Nov, City Union Bank Ltd. is experiencing a price increase, currently at Rs. 277.50, which reflects a rise of Rs. 7.0 or 2.59%. The stock has recently hit a new 52-week high of Rs. 282.95 and has outperformed its sector by 1.78%. Over the past three days, the stock has gained 10.4%, indicating strong momentum. Additionally, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a bullish trend. The bank's strong fundamentals, including a low Gross NPA ratio of 2.42% and a high Capital Adequacy Ratio of 20.09%, support its positive performance. Furthermore, the stock has shown impressive returns of 61.34% over the past year, significantly outpacing the broader market's 8.59% return.
In the broader market context, City Union Bank's short-term performance has been robust, with a 9.34% return over the past week compared to the Sensex's 1.69% increase. This substantial outperformance highlights investor confidence in the bank's financial health and growth prospects. The rising investor participation, evidenced by an 84.55% increase in delivery volume, further indicates strong demand for the stock. While the bank's valuation may appear expensive with a Price to Book Value of 2.1, the high institutional holdings at 62.71% suggest that knowledgeable investors continue to support the stock, reinforcing its upward trajectory.