Why is Asahi India Glas falling/rising?

As of 07-Jul, Asahi India Glass Ltd is experiencing a decline in its stock price, currently at Rs 815.60, which reflects a decrease of Rs 27.4 or 3.25%. The stock has recently seen a trend reversal after eight consecutive days of gains, and today it touched an intraday low of Rs 812.3. Despite this decline, the stock has shown strong performance over the past year, generating a return of 17.85%, significantly outperforming the broader market's return of 4.31%. However, the stock is currently trading lower than its 52-week high by 4.83%, and there has been a notable decrease in investor participation, with delivery volume falling by 13.5% against the 5-day average.
In the broader market context, Asahi India Glass Ltd's recent performance contrasts with the Sensex, which has seen a slight decline of 0.20% over the past week. While the stock has outperformed the benchmark in the longer term, its recent drop may be influenced by sector-wide challenges, as the glass sector has fallen by 3.1%. The liquidity of the stock remains adequate for trading, but the decline in delivery volume suggests a potential decrease in investor confidence. Overall, while the company maintains a strong market position and has a significant share of the industry, the recent price movement reflects a combination of profit-taking after a strong rally and sector-specific pressures.