Why is Jayaswal Neco falling/rising?

As of 12-Aug, Jayaswal Neco Industries Ltd is experiencing a significant rise in its stock price, currently at Rs 59.63, reflecting an increase of Rs 5.59 or 10.34%. The stock has recently hit a new 52-week high of Rs 61.85 and has outperformed its sector by 10.01%. Over the last three days, it has gained 12.62%, and its performance over the past month shows a remarkable increase of 56.43%. The company has demonstrated strong financial results, with operating profit growth of 88.46% and a substantial increase in profit after tax, contributing to its positive momentum. However, the stock faces risks due to 99.87% of promoter shares being pledged, which could exert downward pressure in volatile market conditions.
In the broader market context, Jayaswal Neco's short-term return of +9.19% over the past week stands in stark contrast to the Sensex, which has declined by 0.59%. This divergence highlights the stock's strong performance relative to the overall market. Additionally, while the stock has shown consistent returns over the last three years, outperforming the BSE500, the recent decline in investor participation, with delivery volume falling by 69.99% against the five-day average, may indicate caution among investors despite the company's positive financial indicators.