Why is Asahi India Glas falling/rising?

As of 18-Sep, Asahi India Glass Ltd is experiencing a price increase, currently at Rs 913.55, reflecting a rise of Rs 14.15 or 1.57%. The stock has recently hit a new 52-week high of Rs 922 and has shown a strong performance, gaining 3.06% over the last two days. Over the past week, the stock has outperformed the benchmark Sensex, with a return of 5.99% compared to the Sensex's 1.80%. Additionally, the company has demonstrated healthy long-term growth, with an annual operating profit growth rate of 30.79%. However, it faces challenges such as a significant drop in profit after tax for the last quarter and a high debt-equity ratio, which may temper investor enthusiasm.
In the broader market context, while the stock has performed well, generating a 36.31% return over the past year against the BSE500's negative return of -1.96%, it is essential to note that the company's profitability growth has not kept pace with its stock performance, as profits have only risen by 7.8%. This discrepancy is reflected in a high PEG ratio of 8.7, indicating that the stock may be overvalued relative to its earnings growth. Despite these concerns, the stock's liquidity and rising investor participation suggest a positive sentiment in the short term, contributing to its recent price rise.