Why is Karnataka Bank falling/rising?

As of 30-Jun, Karnataka Bank Ltd's stock price is currently at 195.75, reflecting a decline of 11.95 points or 5.75%. The stock has been underperforming, having fallen consecutively for the last two days, with a total drop of 5.96% during this period. It opened with a loss of 3.23% today and reached an intraday low of Rs 190.05, which is an 8.5% decrease. Over the past week, the stock has decreased by 4.14%, and year-to-date, it has seen a decline of 8.66%. Despite strong long-term fundamentals, including a low Gross NPA ratio of 3.08% and a 24.13% CAGR growth in net profits, the stock's performance has been negatively impacted by poor quarterly results, including a significant drop in profit before tax and net interest income.
Broader market context indicates that Karnataka Bank has underperformed compared to the benchmark Sensex, which has gained 2.09% over the past week and 7.00% year-to-date. The stock's negative returns of -12.61% over the past year starkly contrast with the broader market's positive performance, where the BSE 500 has generated returns of 3.95%. This underperformance, coupled with the recent negative quarterly results, has likely contributed to a lack of investor confidence, despite the stock's attractive valuation and high institutional holdings.