Why is IDBI Bank falling/rising?

As of 16-Jul, IDBI Bank Ltd. is experiencing a price increase, currently at 100.65, reflecting a rise of 2.5 or 2.55%. The stock has outperformed its sector by 0.73% today and reached an intraday high of Rs 102.2, marking a 4.13% increase. Over the past week, IDBI Bank has shown a positive return of 0.75%, while its performance over the last month stands at 6.58%. The bank has demonstrated consistent growth, with a net profit increase of 20.90% annually and a low gross NPA of 2.98%. Additionally, the stock's high capital adequacy ratio of 18.29% and a favorable PEG ratio of 0.4 suggest strong financial health, contributing to its upward price movement.
In the broader market context, while IDBI Bank has risen, the Sensex has declined by 1.08% over the past week, highlighting the stock's relative strength against market trends. The bank's year-to-date performance shows a substantial gain of 31.57%, significantly outperforming the Sensex's 5.75% increase. Despite the positive indicators, it is worth noting that domestic mutual funds hold only 0.82% of the company, which may reflect a lack of confidence in the stock's valuation or business prospects. Overall, IDBI Bank's strong financial metrics and consistent returns over the past three years have contributed to its rising stock price amidst a challenging market environment.