Why is Indbank Merchant falling/rising?

As of 06-Oct, Indbank Merchant Banking Services Ltd is experiencing a significant rise in its stock price, currently at Rs 39.50, reflecting an increase of Rs 6.58 or 19.99%. The stock has shown strong performance today, outperforming its sector by 18.78%, and opened with a gain of 3.28%. It reached an intraday high of Rs 39.50, and has been trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 24.79% against the 5-day average. The stock's performance over the past week and month has also been impressive, with returns of +22.03% and +21.50%, respectively, indicating a strong upward trend.
In the broader market context, while the Sensex has only increased by 1.77% over the past week and 1.34% over the past month, Indbank's substantial gains highlight its outperformance relative to the benchmark. Despite a year-to-date decline of 14.71% compared to the Sensex's gain of 4.67%, the recent price movement suggests a recovery phase for the stock. The data does not provide any specific positive or negative factors that could further explain the stock's recent movement, but the overall upward trend in returns and increased trading activity indicate a positive sentiment among investors.