Why is IIFL Capital falling/rising?

As of 23-Sep, IIFL Capital Services Ltd is experiencing a price increase, currently at Rs 298.40, which reflects a rise of Rs 21.1 or 7.61%. Today's performance indicates a trend reversal as the stock has gained after five consecutive days of decline. It outperformed its sector by 6.86% and reached an intraday high of Rs 307.25, showing significant volatility with a wide trading range of Rs 30.25. Despite a year-to-date decline of 8.69%, the stock has demonstrated strong long-term fundamentals, with an average return on equity (ROE) of 24.86% and healthy operating profit growth of 28.71% annually. However, it has faced challenges, such as flat results in June and a decline in profit before tax compared to previous quarters.
In the broader market context, IIFL Capital's short-term return of +2.19% over the past week contrasts with the Sensex, which has decreased by 0.34%. This indicates that the stock is performing better than the benchmark in the short term. Additionally, the stock's liquidity is adequate for trading, supported by a rise in delivery volume, which suggests increased investor participation. While the stock has underperformed over the past month and year, the high institutional holdings at 22.15% may provide a buffer against volatility, as these investors typically have more resources to analyze the company's fundamentals.