Why is Indian Bank falling/rising?

As of 22-Sep, Indian Bank's stock price is rising, currently at 702.70, reflecting an increase of 1.5 (0.21%). The stock has been gaining for the last two days, with a total return of 0.43% during this period. It is also close to its 52-week high, just 1.3% away from Rs 711.8. The stock has outperformed its sector by 0.83% today and has shown strong performance over various time frames, including a 32.35% increase year-to-date and a remarkable 248.13% rise over the past three years. The company has strong fundamentals, including a high provision coverage ratio, consistent profit growth, and positive results for the last 13 consecutive quarters, which contribute to investor confidence and support the stock's upward movement.
In the broader market context, Indian Bank's short-term performance of +0.98% over the past week has outpaced the Sensex, which increased by only +0.46%. This indicates that the stock is not only performing well on its own but is also gaining traction compared to the overall market. The high institutional holdings at 22.6% suggest that knowledgeable investors are backing the stock, further enhancing its appeal. The company's strong long-term growth metrics, including a 72.27% CAGR in net profits and a low gross NPA ratio, reinforce its position as a solid investment, contributing to the stock's rising price.