Why is Union Bank (I) falling/rising?

As of 07-Aug, Union Bank of India is experiencing a price increase, currently at 132.45, reflecting a rise of 1.4 or 1.07%. The stock has shown strong performance today, outperforming its sector by 0.93% and has gained 3.48% over the last two days. Despite a decline of 12.92% over the past month, the stock has demonstrated resilience with a year-to-date increase of 10.05% and a significant 240.49% rise over the last three years. The company's strong fundamentals, including a high dividend yield of 3.59%, consistent net profit growth, and a low gross NPA ratio of 3.52%, contribute positively to investor sentiment. Additionally, increased participation from institutional investors, who now hold 19.64% of the company, indicates confidence in its long-term prospects.
In the broader market context, Union Bank's recent performance contrasts favorably with the benchmark Sensex, which has declined by 0.69% over the past week and 3.38% over the past month. This relative outperformance highlights the stock's strength amidst a generally challenging market environment. The stock's ability to maintain positive returns over the last three years, coupled with strong provisioning practices and a solid growth trajectory, positions it favorably compared to the broader market trends.