Why is Jayaswal Neco falling/rising?

As of 19-Sep, Jayaswal Neco Industries Ltd is experiencing a decline in its stock price, currently at Rs 69.68, which reflects a decrease of Rs 4.14 or 5.61%. Today's price summary indicates that the stock has underperformed its sector by 5.81%, reaching an intraday low of Rs 69.05. Despite a strong performance over the past year, with a return of 43.34%, the stock has seen a drop in investor participation, as evidenced by a 22.64% decrease in delivery volume compared to the five-day average. While the company has shown robust long-term growth, including a significant increase in operating profit and positive results over the last two quarters, the high percentage of pledged promoter shares (99.87%) poses a risk, particularly in a declining market, which may contribute to the current downward pressure on the stock price.
In the broader market context, Jayaswal Neco's short-term performance has been notably better than the benchmark, with a 5.48% increase over the past week compared to the Sensex's 0.88% rise. However, the recent decline in stock price may reflect broader market sentiments or specific concerns regarding liquidity and investor confidence, especially given the falling delivery volumes. Despite the company's strong fundamentals and positive growth indicators, the high level of pledged shares could be a significant factor affecting investor sentiment and leading to the current price drop.