Why is Union Bank (I) falling/rising?

As of 10-Nov, Union Bank of India is experiencing a price increase, currently at Rs 154.25, reflecting a rise of 0.95 or 0.62%. The stock has shown strong performance recently, gaining 2.8% over the last two days and outperforming its sector by 0.91%. It is also trading close to its 52-week high, just 2.82% away from Rs 158.6. The stock has demonstrated impressive returns over various periods, including a 28.17% increase year-to-date and a remarkable 130.74% rise over the past three years. Positive factors contributing to this upward movement include strong provisioning practices, a high dividend yield of 3.07%, and a solid long-term growth trajectory with a 65.85% CAGR in net profits.
In the broader market context, Union Bank's recent performance stands out against the benchmark Sensex, which has declined by 0.53% over the past week while the stock itself has risen by 2.22%. This indicates that Union Bank is not only performing well in isolation but is also gaining traction compared to the overall market. Despite a recent drop in investor participation, as evidenced by a 45.64% decrease in delivery volume, the stock's liquidity remains adequate for trading. The combination of strong fundamentals, attractive valuations, and consistent market-beating performance reinforces the stock's positive momentum.