Why is TVS Holdings falling/rising?

As of 28-Jul, TVS Holdings Ltd is experiencing a decline in its stock price, currently at Rs 11,550.00, which represents a decrease of 251.0 points or 2.13%. The stock has underperformed its sector by 1.65% today and has been on a consecutive downward trend for the last three days, resulting in a total decline of 6.67% during this period. Despite touching an intraday high of Rs 12,046.8, the stock's performance over the past week shows a loss of 3.75%, while it has gained 4.43% over the past month. The company has reported positive financial results for the last six quarters, with significant cash reserves and a low debt-equity ratio, but the increase in pledged promoter shares to 23.06% raises concerns among investors. Broader Market Context: In comparison to the benchmark Sensex, which has declined by 1.59% over the past week, TVS Holdings' short-term performance is notably worse. While the stock has shown a year-to-date gain of 8.70% against the Sensex's 3.52%, its one-year return of -15.01% starkly contrasts with the benchmark's minimal decline of 0.54%. This suggests that while the company has strong fundamentals, the recent price movements may be influenced by broader market sentiments and investor concerns regarding the increase in pledged shares.