Why is Indian Bank falling/rising?

As of 24-Sep, Indian Bank's stock price is rising, currently at 707.50, reflecting an increase of 12.55 or 1.81%. The stock has recently hit a new 52-week and all-time high of Rs. 722.1, outperforming its sector by 2.24%. Over the past week, Indian Bank has shown a modest gain of 0.57%, while its one-month return stands at 5.91%. The stock has demonstrated impressive long-term performance, with a year-to-date increase of 33.25% and a remarkable 258.86% rise over the past three years. Key positive factors contributing to this upward movement include strong provisioning practices, consistent profit growth, and a healthy credit-deposit ratio. Additionally, the stock is trading above all significant moving averages, indicating bullish momentum.
In the broader market context, Indian Bank's recent performance contrasts sharply with the Sensex, which has declined by 1.18% over the past week. This divergence highlights the bank's strong fundamentals, as evidenced by its high institutional holdings of 22.6% and a favorable PEG ratio of 0.3. The company's ability to maintain positive results for 13 consecutive quarters, alongside a low gross NPA ratio of 3.01%, further underscores its resilience in a challenging market environment. Overall, Indian Bank's strong financial metrics and market-beating performance have positioned it favorably, contributing to its rising stock price amidst broader market fluctuations.