Why is Jio Financial falling/rising?

As of 13-Aug, Jio Financial Services Ltd is experiencing a price increase, currently at 330.50, which reflects a rise of 3.5 or 1.07%. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. However, there has been a notable decline in investor participation, with delivery volume dropping by 31.82% compared to the 5-day average. Despite this, the stock has shown strong performance over various periods, including a year-to-date return of 10.63%, significantly outperforming the Sensex, which has gained only 3.07%. The company's fundamentals remain robust, with a remarkable 462.61% compound annual growth rate in operating profits and a substantial increase in net sales.
In the broader market context, Jio Financial's short-term return of 1.23% over the past week contrasts with the Sensex, which has remained nearly flat at -0.01%. This outperformance suggests that the stock is gaining traction despite broader market conditions. The high institutional holdings at 27.17% further support the stock's stability, as these investors typically have the resources to conduct thorough analyses of company fundamentals. Their increased stake of 1.13% over the previous quarter indicates confidence in the company's long-term prospects, contributing to the stock's upward movement.