Why is IIFL Finance falling/rising?

As of 21-Jul, IIFL Finance Ltd is experiencing a price increase, currently trading at 536.30, which reflects a rise of 3.3 or 0.62%. The stock has shown strong performance, gaining 2.46% over the past week and 12.95% over the last month. It is also close to its 52-week high, being only 4.51% away from Rs 560.5. The stock has been on a positive trajectory, gaining for six consecutive days and showing a 3.23% return during this period. Additionally, it is trading above all its moving averages, indicating bullish momentum. The stock's strong long-term fundamentals, with an average Return on Equity (ROE) of 14.71%, and high institutional holdings at 33.57% further support its recent price movement, despite a significant profit decline of 45.3% over the past year.
In the broader market context, IIFL Finance's performance has outpaced the benchmark, with a 1-year return of 15.10% compared to the BSE500's 1.63%. This market-beating performance, combined with rising investor participation—evidenced by a 37.3% increase in delivery volume—suggests a favorable sentiment among investors. The stock's liquidity, sufficient for trades of Rs 1.48 crore, also contributes to its attractiveness. Overall, the positive returns relative to the benchmark and strong institutional backing indicate a robust demand for IIFL Finance shares, driving the stock's price upward.