Why is J&K Bank falling/rising?

As of 10-Oct, The Jammu & Kashmir Bank Ltd. is experiencing a price increase, currently at Rs 107.50, reflecting a rise of Rs 4.5 or 4.37%. The stock has shown strong performance today, outperforming its sector by 2.45% and achieving a consecutive gain over the last two days with a total return of 5.29%. It reached an intraday high of Rs 108, and is trading above all key moving averages, indicating positive momentum. Additionally, the stock has demonstrated impressive returns over various periods, including a 6.29% increase over the past month and a remarkable 273.26% over the last three years. The company's strong fundamentals, highlighted by a 31.04% CAGR growth in net profits and a favorable PEG ratio of 0.4, further support the stock's upward movement.
In the broader market context, J&K Bank's short-term performance has outpaced the Sensex, which has risen by 1.59% over the past week, compared to the bank's 1.94% increase. This trend of outperformance is consistent with its year-to-date return of 6.62% against the Sensex's 5.58%. However, it is worth noting that there has been a decline in investor participation, with delivery volume falling by 14.6% against the five-day average, which could indicate some caution among investors. Despite this, the stock remains liquid enough for trading, and its attractive valuation relative to peers suggests that it may continue to draw interest from investors looking for growth opportunities.