Why is JM Financial falling/rising?

As of 15-Jul, JM Financial Ltd's stock price is currently at Rs. 170.45, reflecting a decrease of Rs. 1.55, or 0.9%. The stock has recently hit a new 52-week high of Rs. 174.3 but has underperformed its sector by 1.71% today. Over the past week, the stock has seen a slight decline of 0.15%, while it has shown strong performance over the past month with an increase of 18.78%. Despite a remarkable return of 79.36% over the past year, the company's profits have fallen by 34.7%, which may contribute to investor caution. The stock is trading at a premium compared to its peers, with a Price to Book Value of 1.7, indicating a fair valuation. High institutional holdings at 24.55% suggest that knowledgeable investors are backing the stock, which could provide some stability.
In the broader market context, JM Financial's recent performance contrasts with the Sensex, which has declined by 1.36% over the past week. This indicates that while JM Financial has shown resilience in the long term, it is currently facing challenges in the short term. The stock's liquidity is adequate for trading, and rising investor participation, as evidenced by a 68.98% increase in delivery volume, suggests ongoing interest. However, the combination of falling profits and a premium valuation may be causing some investors to reassess their positions, contributing to the stock's recent decline.