Why is IIFL Finance falling/rising?

As of 01-Aug, IIFL Finance Ltd's stock price is currently at 426.95, reflecting a decline of 49.05 points or 10.3%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total loss of 17.05% during this period. Today, it reached an intraday low of Rs 420.65 and has exhibited high volatility with an intraday volatility of 6.54%. Over the past week, the stock has decreased by 17.38%, while its one-month return is down by 9.01%. Despite a strong long-term fundamental strength indicated by an average Return on Equity (ROE) of 14.71%, the stock's profits have fallen by 44% over the past year, contributing to its current negative price movement.
In the broader market context, IIFL Finance's recent performance has significantly lagged behind the benchmark Sensex, which has only decreased by 1.06% over the past week. The stock's performance today has underperformed its sector by 8.82%. While the stock has shown a positive year-to-date return of 3.14%, the recent declines and high volatility suggest a challenging environment for investors. Additionally, although institutional holdings are relatively high at 34.71%, indicating some level of confidence from larger investors, the stock's current trading at a premium compared to its peers and the substantial drop in profits may be causing concern among retail investors, leading to the recent price decline.