Why is IIFL Finance falling/rising?

As of 29-Jul, IIFL Finance Ltd's stock price is currently at 514.70, reflecting an increase of 18.1, or 3.64%. Today's performance indicates a trend reversal, as the stock has gained after three consecutive days of decline. It outperformed its sector by 3.18%, reaching an intraday high of Rs 519.9. Over the past month, the stock has shown a positive return of 8.97%, while its year-to-date return stands at 24.34%. Despite a significant profit decline of 45.3% over the past year, the stock maintains strong long-term fundamental strength with a return on equity of 14.71% and high institutional holdings, which have increased by 1.14% in the previous quarter.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has outperformed the BSE500, which has generated negative returns of -2.26% over the last year. While the stock has experienced a short-term decline of 2.83% over the past week, its overall performance remains robust compared to the benchmark's -1.03% decline in the same period. This resilience, coupled with rising investor participation and liquidity, suggests that the stock is viewed favorably by investors despite recent fluctuations.