Why is JM Financial falling/rising?

As of 08-Jul, JM Financial Ltd's stock price is currently at Rs. 170.70, reflecting an increase of Rs. 3.7, or 2.22%. The stock has recently hit a new 52-week high of Rs. 173.75 and has outperformed its sector by 2.12%. Over the last two days, the stock has gained 2.8%, and it is trading above all key moving averages, indicating strong momentum. However, it is important to note that despite a significant 76.18% return over the past year, the company's profits have declined by 34.7%, and the stock is trading at a premium compared to its peers. Additionally, there has been a notable decrease in investor participation, with delivery volume falling by 63.53% against the 5-day average.
In the broader market context, JM Financial's short-term performance has been impressive, with a 7.56% increase over the past week, significantly outperforming the Sensex, which saw only a 0.02% rise. The stock's strong performance over various time frames, including a 31.81% gain year-to-date, highlights its market-beating capabilities. However, the decline in delivery volume may raise concerns about liquidity and investor confidence, despite high institutional holdings at 24.55%, which could provide some stability and support for the stock's price movement.