Why is TVS Holdings falling/rising?

As of 29-Jul, TVS Holdings Ltd is experiencing a price increase, currently at Rs 11,675.55, which reflects a rise of 125.55 or 1.09%. Today's price summary indicates that the stock opened with a gain of 2.44% and reached an intraday high of Rs 11,831.9. However, it has underperformed its sector by 0.39% and has seen a decline in investor participation, with delivery volume dropping by 55.09% compared to the 5-day average. Despite a year-to-date return of 9.88%, the stock has faced challenges over the past year, with a decline of 15.31%, although profits have increased by 31.4%. The company has shown strong financial health with positive results for the last six quarters, a high cash position, and a low debt-equity ratio, but the increase in pledged promoter shares may raise concerns among investors.
In the broader market context, the stock's short-term performance over the past week shows a decline of 3.67%, while the benchmark Sensex has decreased by only 1.03%. This indicates that TVS Holdings has underperformed relative to the market in the short term. However, over the past month, the stock has outperformed the Sensex, gaining 5.57% compared to the benchmark's decline of 3.24%. The stock's attractive valuation, as indicated by its low PEG ratio and trading at a discount to peers, suggests potential for recovery, but the recent increase in pledged shares could be a negative factor influencing investor sentiment.