Why is IIFL Capital falling/rising?

As of 24-Sep, IIFL Capital Services Ltd is experiencing a decline in its stock price, currently at Rs 292.55, which reflects a decrease of Rs 5.85 or 1.96%. The stock has underperformed its sector by 1.87% today, touching an intraday low of Rs 289.8. In terms of returns, the stock has shown a negative performance over the past month, down 9.20%, and year-to-date, it has decreased by 10.48%. Despite these short-term declines, the company has strong long-term fundamentals, with an average Return on Equity (ROE) of 24.86% and healthy operating profit growth at an annual rate of 28.71%. However, the recent flat results in June 2025, with a 13.7% drop in profit before tax compared to previous quarters, may have contributed to the stock's downward movement.
In the broader market context, the stock's performance over the past week shows a slight increase of 0.79%, while the benchmark Sensex has decreased by 1.18%. This indicates that IIFL Capital has outperformed the benchmark in the short term, despite its overall negative trend. The stock's year-over-year return of -10.59% contrasts with the Sensex's decline of 3.77%, suggesting that while the stock has faced challenges, it has been more volatile compared to the broader market. The high institutional holdings at 22.15% indicate confidence from larger investors, but the recent performance metrics and flat quarterly results may be causing caution among retail investors.