Why is Asahi India Glas falling/rising?

As of 21-Aug, Asahi India Glass Ltd is experiencing a decline in its stock price, currently at Rs 855.90, reflecting a decrease of Rs 13.05 or 1.5%. The stock has underperformed its sector today by 0.51% and has been on a consecutive downward trend for the last two days, resulting in a total decline of 1.64%. Despite touching a new 52-week high of Rs 901.05 earlier in the day, the stock's performance over the past week shows a modest gain of 2.43%, while its one-year return stands at an impressive 30.21%. However, recent financial metrics indicate a decline in profit before tax and profit after tax compared to previous quarters, which may be contributing to the current price drop.
In the broader market context, Asahi India Glass has outperformed the benchmark Sensex over various time frames, including a 12.23% year-to-date return compared to the Sensex's 4.94%. Despite this strong long-term performance, the stock's recent price movement may be influenced by its high valuation metrics, such as a PEG ratio of 8.2, which suggests it may be considered expensive relative to its earnings growth. Additionally, while the company has a significant market share and healthy long-term growth prospects, the recent declines in quarterly profits could be causing investor concern, leading to the current price decrease.