Why is T N Merc. Bank falling/rising?

As of 12-Sep, Tamilnad Mercantile Bank Ltd's stock price is currently at 432.10, reflecting a slight increase of 0.85, or 0.2%. The stock has shown a performance of +1.77% over the past week, which is better than the Sensex's +1.48%. However, it has underperformed in the longer term, with a year-to-date return of -4.51% compared to the Sensex's +4.82%. Today's price summary indicates that the stock is trading above its 5-day and 20-day moving averages but below its longer-term averages. Additionally, there has been a decline in investor participation, with delivery volume falling by 13.48% against the 5-day average. Despite a high Capital Adequacy Ratio of 25.68% and an attractive valuation indicated by a low Price to Book Value of 0.7, the stock's negative performance over the past year and the low domestic mutual fund ownership suggest a lack of confidence among investors.
Broader market context shows that while Tamilnad Mercantile Bank's short-term performance is slightly better than the benchmark, its long-term returns are concerning. The stock has generated a return of -8.84% over the past year, which is significantly worse than the BSE500's performance. The flat results reported for June, including the lowest operating profit to net sales ratio and a high percentage of non-operating income, further contribute to the stock's struggles. The overall sentiment appears to be cautious, as indicated by the lack of domestic mutual fund investment, which may reflect broader market apprehensions about the company's future performance.