Why is CSB Bank falling/rising?

As of 29-Jul, CSB Bank Ltd is experiencing a decline in its stock price, currently at Rs 420.75, which represents a decrease of Rs 2.95 or 0.7%. The stock has underperformed its sector by 0.66% today and has been on a downward trend for the last two days, accumulating a total loss of 1.2%. Despite this recent decline, the stock has shown strong performance over the past month with a return of 6.61%, and it remains close to its 52-week high, just 3.01% away from Rs 433.55. The bank's high Capital Adequacy Ratio of 22.77% and healthy long-term growth indicators, such as a net profit increase of 115.66%, suggest a solid foundation, although its expensive valuation and high PEG ratio of 2.6 may be contributing to investor caution.
In the broader market context, CSB Bank's short-term performance has been slightly better than the benchmark Sensex, which has declined by 1.03% over the past week compared to the bank's 0.97% drop. The stock has demonstrated strong long-term performance, outperforming the BSE500 over the last three years, one year, and three months, which may provide some reassurance to investors. However, the recent consecutive falls and the stock trading at a premium compared to its peers could be causing some investors to reassess their positions, leading to the current price decline.