Why is Asahi India Glas falling/rising?

As of 04-Jul, Asahi India Glass Ltd is experiencing a price increase, currently at Rs. 843.00, reflecting a rise of Rs. 7.75 or 0.93%. The stock has been on an upward trend, gaining for the last eight days and achieving a total return of 21.79% during this period. It recently hit a new 52-week high of Rs. 855, indicating strong performance. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which suggests a bullish trend. Additionally, the stock has outperformed the broader market, generating a return of 22.65% over the past year compared to the BSE500's return of only 2.13%. The company's significant market capitalization of Rs. 20,304 crore and its dominance in the sector, constituting 54.09% of the industry, further bolster investor confidence.
In the broader market context, Asahi India Glass Ltd's short-term performance has been notably strong, with a 14.55% increase over the past week, while the benchmark Sensex has declined by 0.74%. This stark contrast highlights the stock's resilience and attractiveness to investors amidst a challenging market environment. The rising investor participation, evidenced by a 38.72% increase in delivery volume, indicates growing interest and confidence in the stock. Overall, the combination of strong recent performance, market leadership, and positive investor sentiment contributes to the upward movement of Asahi India Glass Ltd's stock price.