Why is IDBI Bank falling/rising?

As of 21-Aug, IDBI Bank Ltd. is experiencing a significant rise in its stock price, currently at 97.61, reflecting an increase of 7.48 or 8.3%. The stock has shown strong performance today, outperforming its sector by 8.1% and achieving consecutive gains over the last four days, with a total return of 11.8% during this period. The stock reached an intraday high of Rs 99.08, indicating robust trading activity, although it has also seen a decline in delivery volume by 3.32% against the five-day average. The bank's high Capital Adequacy Ratio of 18.53% and a healthy net profit growth rate of 23.50% contribute positively to investor sentiment, alongside an attractive valuation with a Price to Book Value of 1.7, suggesting that the stock is trading at a discount compared to its peers.
In the broader market context, IDBI Bank's one-week return of 11.80% significantly outpaces the Sensex's return of 1.74% during the same period. This strong performance is further supported by the bank's consistent returns over the past three years, where it has outperformed the BSE500 in each of the last three annual periods. Despite a slight decrease in investor participation, the stock remains liquid enough for trading, which may also enhance its appeal to investors. Overall, the combination of strong financial metrics and positive market performance has driven the stock's recent upward movement.