Why is IIFL Capital falling/rising?

As of 10-Nov, IIFL Capital Services Ltd is experiencing a decline in its stock price, currently at Rs 312.50, which reflects a decrease of Rs 23.95 or 7.12%. Today's performance indicates significant underperformance, as the stock opened with a loss of 10.51% and reached an intraday low of Rs 301.1. The stock has underperformed its sector by 7.66% today, and the delivery volume has decreased by 34.34% compared to the 5-day average, suggesting a drop in investor participation. Over the past year, the stock has generated a return of -16.67%, while its profits have fallen by 18.4%. This negative trend is compounded by disappointing quarterly results, including a 52.1% decline in profit after tax compared to the previous four-quarter average.
In the broader market context, the stock's short-term return over the past week is -7.57%, significantly worse than the benchmark Sensex, which has only declined by 0.53%. Despite a positive performance over the last month, where the stock rose by 3.25% compared to the Sensex's 1.25%, the overall year-to-date return remains negative at -4.38% against the Sensex's positive 6.91%. The high institutional holdings at 21.96% indicate that these investors are likely aware of the company's fundamental strengths, such as a strong long-term return on equity and healthy growth in operating profit. However, the recent negative financial results and the stock's substantial underperformance relative to the market have contributed to the current decline in its price.