Why is Jio Financial falling/rising?

As of 15-Oct, Jio Financial Services Ltd's stock price is currently at 312.65, reflecting an increase of 7.1, or 2.32%. The stock's performance today aligns with the finance/NBFC sector, which has gained by 2.16%. Over the past week, Jio Financial has seen a return of +2.63%, although it has underperformed over the past month with a decline of -0.86%. Despite a strong long-term fundamental strength indicated by a 462.61% CAGR growth in operating profits and a significant increase in institutional holdings, the stock faces challenges due to flat quarterly results and a high valuation relative to its return on equity (ROE) of 1.3.
In the broader market context, Jio Financial's short-term performance has outpaced the Sensex, which has only increased by 1.02% over the same week. However, the stock has struggled in the longer term, generating a return of -7.18% over the past year, while the benchmark has gained 0.96%. This underperformance, coupled with a decline in investor participation and a significant drop in quarterly profits, suggests that while there may be positive factors supporting the stock, the overall sentiment remains cautious due to its recent financial results and valuation concerns.