Why is JM Financial falling/rising?

As of 27-Jun, JM Financial Ltd is experiencing a price increase, currently at Rs 159.35, reflecting a rise of Rs 3.4 or 2.18%. The stock has shown strong performance, gaining 14.07% over the last four days and outperforming its sector by 2.09% today. It has also demonstrated impressive returns over various periods, including a 30.13% increase over the past month and an 86.37% rise over the past year. Despite this positive momentum, the stock's profits have declined by 34.7%, and it is trading at a premium compared to its peers, which suggests a cautious outlook. Additionally, the stock has high institutional holdings at 24.55%, indicating confidence from larger investors, although there has been a slight decrease in delivery volume recently.
In the broader market context, JM Financial's short-term performance significantly outpaces the benchmark, with a 12.73% increase over the past week compared to the Sensex's 2.00% rise. This trend of outperformance is consistent, as the stock has surpassed the BSE 500 index over multiple time frames, including the last three years. The liquidity of the stock remains adequate for trading, which supports its upward movement, even as investor participation has slightly declined. Overall, the combination of strong recent performance, institutional backing, and market-beating returns contributes to the stock's rising price.