Why is Jayaswal Neco falling/rising?

As of 14-Aug, Jayaswal Neco Industries Ltd is experiencing a decline in its stock price, currently at Rs 57.57, which reflects a decrease of Rs 1.08 or 1.84%. The stock has underperformed its sector by 0.38% today and has been on a consecutive downward trend for the last two days, resulting in a total drop of 3.45%. Despite this recent decline, the stock has shown strong performance over the past week and month, with returns of 8.73% and 35.27%, respectively. Additionally, the company has reported significant growth in operating profit and positive results over the last two quarters, contributing to a healthy long-term outlook. However, the high percentage of pledged promoter shares, which stands at 99.87%, poses a risk and could exert downward pressure on the stock price in a falling market.
In the broader market context, while Jayaswal Neco has outperformed the Sensex over various time frames, including a year-to-date return of 47.62% compared to the Sensex's 3.15%, the recent short-term performance indicates a divergence. The stock's recent decline contrasts with its strong historical performance, suggesting that while the fundamentals remain robust, the market's reaction to the high level of pledged shares may be influencing investor sentiment negatively. Overall, the stock's current movement reflects a complex interplay of strong operational growth and significant risks associated with pledged shares.