Why is IIFL Finance falling/rising?

As of 10-Jul, IIFL Finance Ltd is experiencing a price increase, currently at Rs 521.10, reflecting a rise of Rs 12.4 or 2.44%. The stock has shown strong performance recently, gaining 12.38% over the last five days and outperforming its sector by 1.9%. It has also consistently traded above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has demonstrated impressive returns over various periods, including a year-to-date increase of 25.88% compared to the Sensex's 6.46%. Despite a significant drop in profits over the past year, the stock maintains a strong long-term fundamental strength with a solid return on equity of 14.71% and high institutional holdings, which have increased by 1.29% in the previous quarter.
In the broader market context, IIFL Finance's short-term return of 12.83% over the past week significantly outpaces the Sensex, which has remained nearly flat at -0.06%. This indicates that the stock is not only performing well relative to its historical benchmarks but also attracting increased investor participation, as evidenced by a 9.4% rise in delivery volume. The liquidity of the stock is also favorable, allowing for substantial trading activity. Overall, the combination of strong institutional backing and positive short-term performance contributes to the stock's upward movement in a market that has not shown similar strength.