Why is Jayaswal Neco falling/rising?

As of 17-Sep, Jayaswal Neco Industries Ltd is experiencing a slight decline in its stock price, currently at Rs 71.48, reflecting a decrease of 0.16 (-0.22%). Despite this recent drop, the stock has shown strong performance over the past week with a return of 13.10%, and it has significantly outperformed the benchmark Sensex, which only gained 1.56% during the same period. The stock is close to its 52-week high, just 1.99% away from Rs 72.9, and has been trading above its moving averages across various time frames. However, the stock has seen a trend reversal after two consecutive days of gains, and there has been a notable decrease in investor participation, with delivery volume falling by 32.64% compared to the five-day average.
In the broader market context, while Jayaswal Neco has outperformed the Sensex over the past year with a return of 44.11% compared to the benchmark's decline of 0.46%, the recent drop in stock price may be influenced by the high percentage of pledged promoter shares, which stands at 99.87%. This situation can exert additional downward pressure on the stock, particularly in a falling market. Despite the risks associated with pledged shares, the company has demonstrated robust growth in operating profit and has declared positive results for the last two consecutive quarters, indicating a healthy long-term outlook that may support future price recovery.