Why is JM Financial falling/rising?

As of 24-Jun, JM Financial Ltd is experiencing a price increase, currently at Rs 150.20, reflecting a rise of Rs 10.5 or 7.52%. The stock has shown strong performance today, outperforming its sector by 6.6% and reaching an intraday high of Rs 155, which is a 10.95% increase. Over the past week, JM Financial has gained 6.22%, and in the last month, it has surged by 24.75%. Despite a significant annual return of 81.51%, it is important to note that the company has faced challenges, including a 34.7% decline in profits over the past year and a negative annual growth rate of operating profit at -1.48%. The stock is trading at a premium compared to its peers, with a price-to-book value of 1.5, and has high institutional holdings at 24.55%, indicating confidence from more knowledgeable investors.
In the broader market context, JM Financial's recent performance stands out as it has significantly outperformed the Sensex, which has only increased by 0.58% over the past week and 0.41% over the past month. The stock's year-to-date return of 15.98% also surpasses the Sensex's 5.01% gain. However, the falling investor participation, with a 51.49% drop in delivery volume against the five-day average, raises concerns about sustainability. While the stock has shown remarkable short-term and long-term performance, the negative trends in profitability and operating growth could pose risks moving forward.