Why is Punjab Natl.Bank falling/rising?

As of 29-Jul, Punjab National Bank's stock price is currently at 109.30, reflecting an increase of 2.55, or 2.39%. The stock has shown a trend reversal, gaining after two consecutive days of decline, and it outperformed its sector by 2% today. The stock reached an intraday high of Rs 109.55, and its delivery volume has increased by 8.81% compared to the 5-day average, indicating rising investor participation. Over the past week, the stock has remained flat, while it has gained 2.77% over the past month, contrasting with a decline of 3.24% in the benchmark Sensex. Despite a year-over-year decline of 13.90%, the company has demonstrated strong long-term fundamentals, with a significant 118.20% CAGR growth in net profits and positive results for the last nine consecutive quarters, which may contribute to the stock's recent upward movement.
In the broader market context, while Punjab National Bank's stock has shown resilience with a year-to-date increase of 6.37%, the Sensex has only risen by 4.09% during the same period. This indicates that the stock is performing better than the overall market. The stock's strong institutional holdings at 20.59% suggest confidence from larger investors, who typically have more resources to analyze company fundamentals. Additionally, the stock is trading at a discount compared to its peers, with a favorable PEG ratio of 0.1, which may attract more investors looking for value. Overall, the combination of positive earnings growth, improved investor participation, and favorable valuations supports the stock's recent rise.