Why is T N Merc. Bank falling/rising?

As of 05-Sep, Tamilnad Mercantile Bank Ltd's stock price is currently at 424.60, reflecting a decrease of 0.8, or 0.19%. The stock has underperformed its sector by 0.32% today and has experienced a consecutive decline over the last two days, resulting in a total drop of 0.52%. In terms of returns, the stock has shown a negative performance of 1.53% over the past month and a significant decline of 10.23% over the past year, while its profits have increased by 9.3%. Despite a high Capital Adequacy Ratio of 25.68% and an attractive valuation with a Price to Book Value of 0.7, the stock's performance has been hindered by flat results in recent quarters and a lack of domestic mutual fund investment, indicating potential investor hesitance.
Broader Market Context: In comparison to the benchmark Sensex, which has gained 1.13% over the past week, Tamilnad Mercantile Bank's stock has only increased by 0.22%, highlighting its underperformance. The broader market has shown a positive trend, with the Sensex returning 3.29% year-to-date, while Tamilnad Mercantile Bank has declined by 6.17% in the same period. This disparity in performance suggests that while the overall market is experiencing growth, Tamilnad Mercantile Bank is struggling to attract investor confidence, leading to its recent price decline.