Why is IDBI Bank falling/rising?

As of 28-Oct, IDBI Bank Ltd. is experiencing a price increase, with its current price at Rs 102.13, reflecting a rise of Rs 6.26 or 6.53%. The stock has shown strong performance recently, gaining 8.73% over the last two days and outperforming its sector by 5.18%. It is currently trading close to its 52-week high, just 4.12% away from Rs 106.34. Additionally, IDBI Bank has demonstrated impressive returns over various periods, including a 33.50% increase year-to-date and a 25.64% rise over the past year. The bank's strong fundamentals, such as a high Capital Adequacy Ratio of 18.72% and a significant annual net profit growth rate of 31.01%, further support its positive price movement.
In the broader market context, IDBI Bank's short-term performance of +8.29% over the past week significantly outpaces the Sensex, which has only increased by 0.24%. This indicates that the stock is not only performing well on its own but is also gaining traction relative to the overall market. The bank's attractive valuation, with a Price to Book Value of 1.6 and a low PEG ratio of 0.3, suggests that it is trading at a discount compared to its peers, which could be attracting investor interest. Despite a slight decline in delivery volume, the stock's liquidity remains adequate for trading, contributing to its upward momentum.