Why is Jio Financial falling/rising?

As of 26-Sep, Jio Financial Services Ltd is experiencing a decline in its stock price, currently at Rs 295.75, which reflects a decrease of Rs 5.8 or 1.92%. The stock has been underperforming, having fallen consecutively for the last six days, resulting in a total decline of 6.78% during this period. Additionally, the stock has shown negative returns of 6.67% over the past week and 6.33% over the past month, while it has underperformed the BSE500 index in both the short and long term. Despite a strong long-term fundamental strength indicated by a 462.61% CAGR growth in operating profits and high institutional holdings, the recent flat results and a significant drop in profit after tax have negatively impacted investor sentiment.
In the broader market context, the stock's performance has been notably worse than the benchmark, with the Sensex declining only 2.66% over the past week. The stock's valuation appears expensive with a price-to-book value of 1.5, and its returns over the past year have been significantly negative at -15.46%, contrasting with the benchmark's performance. This underperformance, coupled with a high PEG ratio of 117.3, suggests that the market is cautious about the company's growth prospects despite its strong fundamentals. Overall, the combination of recent poor financial results and ongoing negative sentiment has contributed to the stock's decline.