Why is Jayaswal Neco falling/rising?

As of 17-Oct, Jayaswal Neco Industries Ltd is experiencing a decline in its stock price, currently at Rs 67.89, which reflects a decrease of Rs 3.07 or 4.33%. The stock has underperformed its sector by 3.35% today and has been on a downward trend for the last two days, accumulating a total decline of 5.47%. The stock touched an intraday low of Rs 66.72, indicating significant selling pressure, and the volume traded has decreased by 17.01% compared to the 5-day average. Despite a strong long-term growth outlook, highlighted by a 37.36% annual growth in operating profit and a substantial increase in profits over the past year, the high percentage of pledged promoter shares (99.87%) poses a risk, especially in a falling market, which may contribute to the stock's recent price decline.
In the broader market context, the stock's short-term performance has been notably poor, with a 1-week return of -3.92%, while the benchmark Sensex has gained 1.76% in the same period. This underperformance against the benchmark suggests that investor sentiment may be shifting negatively towards the stock, despite its strong long-term growth metrics. The stock has outperformed the BSE500 over the last year, but the recent trends indicate a potential shift in market perception, exacerbated by the increased proportion of pledged shares, which can create additional downward pressure in a volatile market environment.