Why is IIFL Finance falling/rising?

As of 14-Jul, IIFL Finance Ltd is experiencing a price increase, currently at 523.40, reflecting a change of 3.9 or 0.75% upward. The stock has shown strong performance recently, with a one-week return of 7.57% and a one-month return of 11.67%, significantly outperforming the Sensex, which has declined by 1.42% over the same week. Despite a notable drop in delivery volume by 55.99% against the five-day average, the stock is trading above all key moving averages, indicating positive momentum. The company maintains a strong long-term fundamental strength with an average Return on Equity (ROE) of 14.71%, although its profits have decreased by 45.3% over the past year. High institutional holdings at 33.57% suggest confidence from larger investors, further supporting the stock's upward movement.
In the broader market context, IIFL Finance's recent performance contrasts sharply with the benchmark, as it has outperformed the Sensex significantly in both the short and long term, with a year-to-date return of 26.44% compared to the Sensex's 5.27%. This strong relative performance indicates that investor sentiment towards IIFL Finance remains positive, despite the overall market conditions. The stock's ability to maintain a premium valuation compared to its peers, alongside increasing institutional interest, reinforces its attractiveness to investors, contributing to its rising price.