Why is IIFL Finance falling/rising?

As of 18-Jul, IIFL Finance Ltd is experiencing a price increase, currently at 533.00, reflecting a change of 6.05 or 1.15% upward. The stock has shown strong performance recently, outperforming its sector by 1.44% today and achieving a consecutive gain over the last five days with a total return of 2.6% during this period. Additionally, IIFL Finance has demonstrated impressive returns over various time frames, including a 10.32% increase over the past month and a 28.76% rise year-to-date. Despite a significant drop in profits by 45.3% over the past year, the stock maintains a strong long-term fundamental strength with an average Return on Equity (ROE) of 14.71%. High institutional holdings at 33.57%, which have increased by 1.29% over the previous quarter, further support the stock's positive movement.
In the broader market context, while the BSE500 index has generated negative returns of -0.36% over the past year, IIFL Finance has managed to outperform with a return of 12.91%. This contrast highlights the stock's resilience in a challenging market environment. However, it is important to note that the delivery volume has fallen by 33.82% against the five-day average, indicating a decrease in investor participation, which could be a concern for future price movements. Overall, the stock's ability to outperform the benchmark and its strong institutional backing contribute to its rising price, despite some underlying weaknesses in profitability.