Why is Union Bank (I) falling/rising?

As of 02-Jul, Union Bank of India is currently priced at 153.45, reflecting a decrease of 1.2 points or 0.78%. The stock has recently experienced a trend reversal, falling after four consecutive days of gains. Despite this decline, it remains close to its 52-week high, just 3.36% away from 158.6. The stock has shown strong performance over various periods, with a year-to-date increase of 27.50% and a remarkable 345.43% rise over the past three years. The company has demonstrated robust fundamentals, including a strong provisioning coverage ratio of 76.03% and a significant growth in net profits, which have risen at a compound annual growth rate (CAGR) of 117.24%. These factors contribute to its attractiveness as a long-term investment, despite the recent price drop.
In the broader market context, Union Bank's short-term performance has outpaced the benchmark Sensex, which has only increased by 0.79% over the past week compared to the bank's 6.27% gain. However, the stock's current decline may be attributed to profit-taking after a strong rally, as indicated by the inline performance with its sector today. The rising investor participation, evidenced by an increase in delivery volume, suggests ongoing interest in the stock, which may help stabilize its price in the near term. Overall, while the stock is experiencing a temporary setback, its long-term growth prospects and strong fundamentals continue to support its valuation.