Why is JM Financial falling/rising?

As of 24-Jul, JM Financial Ltd's stock price is currently at Rs. 177.00, reflecting a decrease of Rs. 2.6 or 1.45%. The stock recently reached a new 52-week high of Rs. 181.3 but has underperformed its sector by 0.71% today, with an intraday low of Rs. 175.45. Despite this decline, the stock has shown strong performance over various periods, with a 1-week return of 4.61%, a 1-month return of 17.84%, and a year-to-date return of 36.68%. However, it is important to note that while the stock has generated a significant return of 78.70% over the past year, its profits have decreased by 34.7%, indicating potential concerns about its profitability despite high returns.
In the broader market context, JM Financial's recent performance contrasts with the Sensex, which has seen a slight decline of 0.09% over the past week. The stock's strong historical performance, including a 171.89% return over the last three years, suggests that it has been able to outperform the market significantly. Additionally, high institutional holdings at 24.22% indicate that knowledgeable investors are backing the stock, which may provide some stability. However, the stock's premium valuation compared to its peers and the recent profit decline could be contributing factors to the current price drop, suggesting that while the stock has been a strong performer, there are underlying issues that may be affecting investor sentiment.