Why is JM Financial falling/rising?

As of 04-Jul, JM Financial Ltd's stock price is currently at 165.80, reflecting a decrease of 1.15, or 0.69%. The stock recently hit a new 52-week high of Rs. 173.6 but has fallen after two consecutive days of gains. Despite opening with a gain of 3.98% today, it reached an intraday low of Rs. 162.7, indicating volatility. Over the past week, JM Financial has outperformed the Sensex with a return of 4.05% compared to the benchmark's decline of 0.74%. The stock has shown strong performance over the past month and year, with returns of 26.90% and 80.73%, respectively. However, it is trading at a premium compared to its peers, and its profits have decreased by 34.7%, which may be contributing to the current price decline.
In the broader market context, JM Financial's recent performance has been strong, particularly in the long term, as it has outperformed the BSE500 over various periods. However, the stock's recent underperformance against its sector by 0.82% today suggests that market sentiment may be shifting. The high institutional holdings at 24.55% indicate confidence from larger investors, but the stock's premium valuation and declining profits could be causing caution among retail investors. Overall, while the stock has shown impressive returns historically, the current price movement reflects a combination of profit-taking and market adjustments.