Why is JM Financial falling/rising?

As of 14-Jul, JM Financial Ltd's stock price is rising, currently at Rs 172.00, reflecting an increase of Rs 4.6 or 2.75%. The stock has shown strong performance, gaining 19.86% over the past month and 82.86% over the past year, significantly outperforming the Sensex, which has only increased by 1.40% and 2.15% in the same periods, respectively. Today's price action indicates a positive trend reversal, as the stock has gained after three consecutive days of decline, and it is trading above all key moving averages. However, there is a noted decline in investor participation, with delivery volume falling by 30.43% compared to the five-day average, which could be a concern for future momentum.
Broader market context shows that while JM Financial has outperformed the benchmark in both the short and long term, the overall market sentiment may be mixed, as indicated by the Sensex's decline of 1.42% over the past week. The stock's high institutional holdings at 24.55% suggest confidence from knowledgeable investors, which may support its price movement despite the recent drop in profits of 34.7%. The stock is currently trading at a premium compared to its peers, indicating a fair valuation, but this could also suggest that the market is cautious about its future performance given the declining profit trend.