Why is Tilaknagar Inds. falling/rising?

As of 15-Sep, Tilaknagar Industries Ltd is experiencing a decline in its stock price, currently at 464.35, reflecting a decrease of 5.0 points or 1.07%. The stock has underperformed its sector by 1.78% today and has been on a consecutive downward trend for the last two days, with a total decline of 1.55%. Despite touching an intraday high of Rs 481, the stock's performance over the past month shows a significant drop of 7.83%, contrasting with a year-to-date increase of 9.93% and a remarkable 44.21% rise over the past year. The company has demonstrated healthy long-term growth, with an annual operating profit growth rate of 36.43% and a net profit increase of 121.05%. However, the stock is facing pressure due to a high valuation indicated by a Price to Book Value of 10.2 and the fact that 35% of promoter shares are pledged, which can exacerbate downward price movements in a falling market.
In the broader market context, Tilaknagar's recent performance contrasts with the benchmark Sensex, which has increased by 1.24% over the past week. While the stock has outperformed the Sensex over the last year and three years, its recent underperformance in the short term, coupled with falling investor participation—evidenced by a 37.57% drop in delivery volume—suggests a cautious sentiment among investors. The stock's liquidity remains adequate for trading, but the combination of high pledged shares and a relatively expensive valuation compared to peers may be contributing to its current price decline.