Why is Asahi India Glas falling/rising?

As of 25-Jul, Asahi India Glass Ltd is currently priced at 838.00, reflecting a decrease of 3.75 or 0.45%. The stock has been experiencing a decline, having fallen consecutively for the last two days, resulting in a total drop of 1.64% during this period. Despite this recent downturn, the stock has shown strong performance over the longer term, with a 24.15% increase over the past year, significantly outperforming the broader market, which has only returned 1.78%. Additionally, the stock is currently 4.55% away from its 52-week high of Rs 876.1. However, there has been a notable decline in investor participation, with delivery volume dropping by 56.8% compared to the 5-day average, which may indicate waning interest among investors.
In the broader market context, the stock's short-term performance has been relatively better than the benchmark, as it has outperformed the Sensex by 0.73% today. While the stock has shown resilience with a year-to-date return of 9.88%, the overall market has generated negative returns of -0.19% over the last year. Asahi India Glass Ltd stands as the largest company in its sector, constituting over 50% of the industry, which underscores its market position. Despite the recent price drop, the company's strong historical performance and significant market share suggest that it remains a solid hold for investors, particularly given the majority ownership by promoters, which may instill confidence in its long-term prospects.