Why is SBI Life Insuran falling/rising?

As of 27-Oct, SBI Life Insurance Company Ltd's stock price is rising, currently at 1,902.95, reflecting an increase of 62.45 or 3.39%. The stock has recently hit a new 52-week high of Rs. 1923 and has outperformed its sector by 3.11%. Over the past week, the stock has gained 3.44%, and in the last month, it has risen by 5.80%. Additionally, it is trading above all key moving averages, indicating strong momentum. However, there has been a decline in investor participation, with delivery volume falling by 31.06% against the 5-day average. The company maintains a low debt-to-equity ratio and strong long-term fundamentals, with a return on equity of 1.3 and a price-to-book value of 1, which suggests an attractive valuation despite trading at a premium compared to peers.
Broader market context shows that SBI Life's performance has significantly outpaced the benchmark, with a one-year return of 17.68% compared to the BSE500's 5.53%. This strong performance is supported by high institutional holdings at 40.54%, indicating confidence from investors with better analytical capabilities. The stock's year-to-date return of 36.58% also highlights its resilience and attractiveness in the market, especially given the broader market's 8.50% gain. Overall, the combination of strong fundamentals, market-beating returns, and recent price movements contributes to the stock's upward trajectory.