Why is JM Financial falling/rising?

As of 11-Jul, JM Financial Ltd's stock price is currently at Rs 167.40, reflecting a decrease of Rs 1.0 or 0.59%. The stock has been experiencing a downward trend, having fallen for the last three days with a total decline of 1.93%. Despite opening with a gain of 2.11% today and reaching an intraday high of Rs 171.95, the stock's performance has been impacted by a significant drop in delivery volume, which fell by 44.48% compared to the 5-day average. Over the past year, JM Financial has generated an impressive return of 80.04%, but this has occurred alongside a 34.7% decline in profits, suggesting that while the stock has performed well in terms of price, underlying profitability issues may be affecting investor sentiment.
In the broader market context, JM Financial's short-term performance has outpaced the benchmark Sensex, which has declined by 1.12% over the past week, while JM Financial has increased by 0.97%. This indicates that the stock has been relatively resilient compared to the overall market. However, the stock's current trading at a premium compared to its peers and the high institutional holdings of 24.55% suggest that while there is confidence from larger investors, the recent profit decline may be causing caution among retail investors. Overall, the combination of strong historical performance and current valuation concerns is contributing to the stock's recent price movement.