Why is Jayaswal Neco falling/rising?

As of 16-Sep, Jayaswal Neco Industries Ltd is experiencing a price increase, currently at Rs. 71.64, reflecting a rise of 2.13 (3.06%). The stock has recently hit a new 52-week high of Rs. 72.9 and has outperformed its sector by 2.4%. Over the last two days, the stock has gained 8.45%, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite these positive indicators, there has been a decline in investor participation, with delivery volume falling by 9.15% against the 5-day average. The company has shown strong long-term growth, with operating profit increasing at an annual rate of 37.36% and a significant rise in PAT and operating profit, which supports its positive stock performance.
In the broader market context, Jayaswal Neco's short-term performance has significantly outpaced the benchmark, with a 14.22% return over the past week compared to the Sensex's 1.58%. The stock has also demonstrated strong returns over longer periods, outperforming the BSE500 in the last three years, one year, and three months. However, a risk factor to consider is that 99.87% of promoter shares are pledged, which could exert downward pressure on the stock in a falling market. Overall, the combination of strong financial results and market performance contributes to the stock's rising price, despite the risks associated with pledged shares.