Why is Indian Bank falling/rising?

As of 18-Aug, Indian Bank's stock price is currently at 675.25, reflecting an increase of 7.2, or 1.08%. The stock has recently hit a new 52-week and all-time high of Rs. 679.8, indicating strong upward momentum. Despite a recent trend reversal after three consecutive days of decline, the stock has outperformed its sector by 0.61% today. Over the past month, Indian Bank has shown a notable return of 6.94%, significantly outperforming the Sensex, which has declined by 0.59%. The company has demonstrated strong fundamentals, including a robust provision coverage ratio of 82.82% and a consistent growth in net profits, which has contributed to positive investor sentiment.
Broader market context shows that while Indian Bank has performed well in the long term, with a year-to-date return of 27.18% compared to the Sensex's 4.01%, its short-term performance has been mixed. The stock's recent rise comes amid a backdrop of falling investor participation, as indicated by a significant drop in delivery volume. However, the high institutional holdings at 22.6% suggest confidence from larger investors, which may help stabilize the stock's performance. Overall, Indian Bank's strong financial metrics and positive growth trajectory are key factors driving its current price increase, despite some challenges in short-term trading activity.