Why is IDFC First Bank falling/rising?

As of 31-Oct, IDFC First Bank Ltd. is experiencing a price increase, currently at Rs. 81.77, which reflects a rise of Rs. 2.83 or 3.59%. The stock has recently hit a new 52-week high of Rs. 82.61 and has outperformed its sector by 4.53%. Over the past week, the stock has gained 4.59%, and its performance over the last month shows an impressive increase of 18.46%. Additionally, the stock has demonstrated strong long-term growth, with a 25.09% CAGR in net profits and a 27.03% annual growth in net interest income. High institutional holdings at 58.1% indicate confidence from knowledgeable investors, further supporting the stock's upward movement.
In the broader market context, while IDFC First Bank has shown significant gains, the benchmark Sensex has declined by 0.32% over the past week. This contrast highlights the stock's strong performance relative to the market. Despite a recent drop in delivery volume by 35.75%, the stock remains liquid enough for trading, suggesting continued interest. The overall market-beating performance, with a 23.99% return over the last year compared to the Sensex's 4.13%, reinforces the positive sentiment surrounding IDFC First Bank, contributing to its rising stock price.