Why is Indian Bank falling/rising?

As of 20-Aug, Indian Bank's stock price is currently at Rs 670.00, reflecting a decrease of -2.25, or -0.33%. The stock has been experiencing a decline over the past two days, with a total drop of -0.78% during this period. Despite this recent downturn, the stock has shown strong performance over the longer term, with a year-to-date increase of 26.19% and a 20.31% rise over the past year. The stock is currently trading close to its 52-week high, just 1.94% away, but has seen a significant drop in investor participation, with delivery volume falling by 48.89% compared to the five-day average. The company's strong fundamentals, including a high provision coverage ratio and consistent profit growth, suggest that the stock remains attractive despite the recent price decline.
In the broader market context, Indian Bank's short-term performance has lagged behind the benchmark Sensex, which has gained 1.64% over the past week while the bank's stock has remained flat. However, the bank's long-term performance has outpaced the benchmark, with a remarkable 277.36% increase over the past three years compared to the Sensex's 37.24%. This indicates that while the stock may be facing short-term challenges, its strong fundamentals and historical performance suggest resilience and potential for recovery in the longer term.