Why is Union Bank (I) falling/rising?

As of 04-Jul, Union Bank of India is experiencing a price increase, with its current price at 153.05, reflecting a rise of 1.55 (1.02%). The stock has shown a positive performance today, outperforming its sector by 0.68% and has gained after two consecutive days of decline. It is currently trading close to its 52-week high, just 3.63% away from Rs 158.6. Over the past week, the stock has increased by 2.61%, while its year-to-date return stands at an impressive 27.17%. The company has demonstrated strong fundamentals, including a high provision coverage ratio of 76.03% and a significant growth in net profits at a CAGR of 117.24%. Additionally, it has reported positive results for the last three consecutive quarters, contributing to its favorable valuation compared to peers.
In the broader market context, Union Bank's recent performance contrasts with the benchmark Sensex, which has declined by 0.74% over the past week. While the stock has shown resilience and strong returns over the last three years, outperforming the BSE500 in each of the last three annual periods, there has been a notable decrease in investor participation, with delivery volume falling by 49.28% against the five-day average. Despite this drop in participation, the stock remains liquid enough for significant trades, indicating ongoing investor interest. Overall, the combination of strong financial performance and a favorable market position contributes to the stock's upward movement.