Why is Asahi India Glas falling/rising?

As of 01-Aug, Asahi India Glass Ltd is experiencing a decline in its stock price, currently at Rs 814.25, which reflects a decrease of Rs 23.8 or 2.84%. The stock has been losing value for the last two days, with a total drop of 4.17% during this period. Today's trading saw the stock touch an intraday low of Rs 811.5, and it has shown a weighted average price closer to this low. In terms of performance, the stock has underperformed in the past week with a return of -2.83%, although it has shown positive returns of 0.94% over the past month and 24.34% over the past year. Despite its long-term growth potential, indicated by a healthy annual operating profit growth rate of 30.79%, the stock is facing challenges such as a significant drop in quarterly profit after tax and a high debt-equity ratio, which may be contributing to its current price decline.
In the broader market context, the stock's recent performance has been relatively weak compared to the benchmark Sensex, which has only fallen by 1.06% over the past week. The glass sector, in which Asahi India Glass operates, has also seen a decline of 2.61%. While the stock has outperformed the market over the past year, its recent struggles, including falling investor participation and a decrease in delivery volume, suggest a cautious sentiment among investors. Overall, the combination of short-term price declines, negative quarterly performance metrics, and sector-wide challenges are likely influencing the stock's current downward trajectory.