Why is JM Financial falling/rising?

As of 28-Jul, JM Financial Ltd's stock price is currently at Rs 162.90, reflecting a decrease of Rs 5.65 or 3.35%. The stock has been underperforming, having fallen consecutively for the last three days, resulting in a total decline of 9.3% during this period. Today's trading saw the stock reach a high of Rs 172.95 and a low of Rs 162.05, with more volume traded closer to the lower price. Despite a strong year-to-date return of 25.79% and a one-year return of 58.32%, the stock's profits have decreased by 34.7%, which may be contributing to the recent price decline. Additionally, while the stock has a fair valuation with a Price to Book Value of 1.6 and high institutional holdings at 24.22%, it is trading at a premium compared to its peers, which could be affecting investor sentiment.
In the broader market context, JM Financial's short-term performance has been weaker than the benchmark, with a 1-week return of -4.20% compared to the Sensex's decline of only -1.59%. This underperformance in the short term, combined with the recent consecutive falls, suggests that market sentiment may be cautious despite the stock's strong long-term performance. The liquidity of the stock remains adequate for trading, but the recent decline in price and the significant drop in profits could be causing investors to reassess their positions, leading to the current downward movement.