Why is IDBI Bank falling/rising?

As of 30-Jun, IDBI Bank Ltd. is experiencing a price increase, currently at Rs 103.43, reflecting a rise of Rs 2.19 or 2.16%. The stock has shown strong performance, gaining 15.82% over the last seven days and is currently trading close to its 52-week high, just 4.4% away from Rs 107.98. The stock is performing well above its moving averages across various time frames, indicating positive momentum. Additionally, the bank has demonstrated consistent growth, with a net profit increase of 31.43% and a low gross NPA of 2.98%, contributing to a favorable investment outlook. The high capital adequacy ratio of 18.29% further strengthens its position against risks, and the stock's fair valuation compared to peers suggests it is attractively priced.
In the broader market context, IDBI Bank's short-term return of 13.57% over the past week significantly outperforms the Sensex, which has only gained 2.09% in the same period. This indicates that investor sentiment towards IDBI Bank is particularly strong compared to the overall market. The public banking sector has also seen a positive movement, gaining 2.39%, which may contribute to the favorable conditions for IDBI Bank. The rising investor participation, evidenced by a substantial increase in delivery volume, suggests growing confidence among investors, further supporting the stock's upward trajectory.