Why is JM Financial falling/rising?

As of 25-Jun, JM Financial Ltd is experiencing a rise in its stock price, currently at Rs 154.85, reflecting an increase of Rs 4.65 or 3.1%. The stock has shown strong performance today, outperforming its sector by 2.49% and achieving a consecutive gain over the last two days with a total return of 10.84%. It reached an intraday high of Rs 159.2, indicating positive momentum. Additionally, JM Financial has demonstrated impressive returns over various periods, including an 87.58% increase over the past year and a 160.69% rise over the past three years. However, despite this strong performance, the company has faced challenges, such as a -34.7% decline in profits over the past year and a negative growth rate in operating profit of -1.48%.
In the broader market context, JM Financial's short-term return of 8.44% over the past week significantly outpaces the Sensex's 1.61% increase, showcasing its strong market position. The stock's high institutional holdings at 24.55% suggest confidence from knowledgeable investors, which may contribute to its rising price. However, the stock is trading at a premium compared to its peers, and the recent negative financial results, including a -53.29% decline in PAT, raise concerns about its long-term growth potential. Overall, while JM Financial is currently rising, the mixed signals from its financial performance and valuation compared to peers may influence future investor sentiment.