Why is IIFL Capital falling/rising?

As of 18-Jul, IIFL Capital Services Ltd is experiencing a decline in its stock price, currently at Rs 318.60, reflecting a decrease of 3.95 points or 1.22%. The stock has underperformed its sector by 0.93% today and has been on a downward trend for the last two days, accumulating a total fall of 3.91%. Despite opening with a gain of 5.41% and reaching an intraday high of Rs 340, the stock has shown high volatility with an intraday fluctuation of 5.56%. Over the past week, the stock has declined by 2.72%, and over the past month, it has dropped by 5.21%, contrasting with a positive return of 70.01% over the last year. The company has strong long-term fundamentals, with a return on equity (ROE) of 24.86% and significant growth in operating profit, but recent quarterly results show a concerning decline in profit after tax (PAT) by 33% compared to the previous four quarters, which may be influencing investor sentiment negatively.
In the broader market context, the stock's recent performance has been weaker than the benchmark Sensex, which has seen a slight increase of 0.38% over the past month. While IIFL Capital has outperformed the Sensex over the past year and three years, the recent quarterly results may have raised concerns among investors, leading to the current price decline. The high institutional holdings at 23.29% suggest that informed investors are closely monitoring the company's fundamentals, which could be contributing to the stock's volatility and recent price movement.