Why is Jayaswal Neco falling/rising?

As of 24-Oct, Jayaswal Neco Industries Ltd is experiencing a price increase, currently at Rs. 78.76, reflecting a rise of 7.15 or 9.98%. The stock has reached a new 52-week high today, hitting Rs. 78.77, and has outperformed its sector by 9.8%. Over the past week, the stock has shown a robust performance with a 16.01% increase, and it has generated an impressive 101.95% return year-to-date. The company's operating profit has grown significantly, contributing to its strong financial results over the last three quarters, which has likely bolstered investor confidence. However, there are concerns regarding high promoter share pledges and an expensive valuation relative to its peers, which could pose risks to its continued upward movement.
In the broader market context, Jayaswal Neco's short-term performance significantly outpaces the benchmark, with a 1-week return of 16.01% compared to the Sensex's mere 0.31% increase. This strong performance indicates that the stock is not only thriving on its own merits but also attracting investor interest in a relatively stable market environment. Despite a recent decline in investor participation, as evidenced by a 31.87% drop in delivery volume, the stock's liquidity remains adequate for trading. Overall, the combination of strong financial results and market-beating performance has contributed to the stock's rising price.