Why is GPT Infraproject falling/rising?

As of 04-Sep, GPT Infraprojects Ltd is experiencing a decline in its stock price, currently at Rs 116.30, reflecting a decrease of Rs 1.7 or 1.44%. Today's performance indicates that the stock has underperformed its sector by 0.69% and has fallen after three consecutive days of gains. The stock touched an intraday low of Rs 115.1, marking a decline of 2.46%. Over the past week, the stock has shown a modest increase of 1.48%, but it has significantly underperformed over the past month and year, with returns of -9.91% and -29.90%, respectively. Despite positive financial results over the last nine quarters, including a 39.8% growth in PAT, the stock's long-term growth prospects are hindered by a high percentage of pledged promoter shares, which has increased to 50.88% in the last quarter.
In the broader market context, while the Sensex has shown a slight gain of 0.80% over the past week, GPT Infraprojects Ltd's performance has been notably weaker, indicating a divergence from the market trend. The stock's year-to-date performance is particularly concerning, with a decline of 18.10% compared to the Sensex's increase of 3.30%. This underperformance, coupled with the company's high dividend yield of 3.39% and attractive valuation metrics, suggests that while the company has solid fundamentals, market sentiment remains cautious, likely due to the high proportion of pledged shares and the stock's significant drop over the past year.