Why is Asahi India Glas falling/rising?

As of 18-Jul, Asahi India Glass Ltd is experiencing a decline in its stock price, currently at Rs 839.00, which reflects a decrease of Rs 33.3 or 3.82%. Today's price summary indicates that the stock has underperformed its sector by 1.11% and has fallen after three consecutive days of gains, touching an intraday low of Rs 837.45. Despite this drop, the stock has shown strong performance over the past month, with an increase of 8.29%, and a remarkable 31.84% rise over the past year, significantly outperforming the broader market, which has generated negative returns. The company, being the largest in its sector with a market cap of Rs 21,205 crore, has a strong position, constituting over half of the industry’s sales, which supports its resilience despite recent price fluctuations.
In the broader market context, Asahi India Glass Ltd's short-term performance has been relatively better than the benchmark, with a 1-week return of -1.53% compared to the Sensex's -0.90%. This indicates that while the stock is currently facing a downturn, it has been able to maintain a stronger position relative to the market over longer periods, such as the year-to-date return of 10.01% versus the Sensex's 4.63%. The recent increase in investor participation, with a notable rise in delivery volume, suggests that there is still interest in the stock, which may help stabilize its price in the future. However, the current trend of falling prices, combined with sector-wide declines, indicates a challenging environment for the stock at this moment.