Why is Jayaswal Neco falling/rising?

As of 29-Aug, Jayaswal Neco Industries Ltd is experiencing a decline in its stock price, currently at Rs 57.76, which represents a decrease of 1.24 or 2.1%. Today's price summary indicates that the stock has underperformed its sector by 1.21%, with an intraday low of Rs 57.43, reflecting a drop of 2.66%. Over the past week, the stock has seen a decline of 4.95%, although it has performed well over the longer term, with a year-to-date increase of 48.10%. Despite the company's strong fundamentals, including significant growth in operating profit and consistent returns over the past three years, the stock is facing pressure due to a high percentage of pledged promoter shares, which has increased recently and can exacerbate price declines in a falling market.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has declined by 1.84% over the past week. While Jayaswal Neco has shown impressive long-term growth, the current market conditions and the falling investor participation, evidenced by a 47.17% drop in delivery volume, suggest that investor sentiment may be cautious. This cautious sentiment is likely influenced by the high percentage of pledged shares, which adds to the stock's volatility and potential for further declines in a bearish market environment.