Why is JM Financial falling/rising?

As of 22-Jul, JM Financial Ltd is currently priced at Rs 170.00, reflecting a slight decline of -0.05 (-0.03%). The stock's performance today is in line with its sector, and it is trading close to its 52-week high, being only 2.53% away from Rs 174.3. Over the past week, the stock has decreased by -0.26%, but it has shown strong performance over the longer term, with a 20.27% increase over the past month and an impressive 79.02% return over the last year. Despite this strong performance, it is important to note that the company's profits have fallen by -34.7%, which may contribute to the current price movement. The stock is also trading at a premium compared to its peers, with a Price to Book Value of 1.7, indicating a fair valuation but potentially limiting further upside.
In the broader market context, the stock has outperformed the benchmark Sensex, which has declined by -0.47% over the past week. JM Financial's high institutional holdings at 24.55% suggest that knowledgeable investors are backing the stock, which can provide some stability. Additionally, the stock has shown market-beating performance over the long term, outperforming the BSE500 in various time frames. However, the recent decline in profits and the premium valuation compared to peers may be causing some caution among investors, leading to the slight drop in price despite overall strong returns.