Why is Asahi India Glas falling/rising?

As of 22-Sep, Asahi India Glass Ltd is experiencing a price increase, currently at Rs 887.95, reflecting a rise of 9.1 or 1.04%. The stock is trading close to its 52-week high, just 3.83% away from Rs 922, and has outperformed its sector by 0.66% today. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong momentum. Despite a slight decline of 0.58% over the past week, the stock has shown positive performance over the longer term, with a year-to-date return of 16.43% compared to the Sensex's 5.15%. However, there are concerns as the company's PAT for the last quarter has fallen by 35.4% compared to the previous four-quarter average, and its ROCE is at a low of 11.36%, which may affect investor sentiment.
In the broader market context, while the stock has generated a return of 14.08% over the past year, the benchmark BSE500 has seen a decline of 3.80%, highlighting the stock's resilience in a challenging market environment. The company's significant market capitalization of Rs 21,365 crore, which constitutes 54.26% of its sector, and its healthy long-term growth with an annual operating profit increase of 30.79% further support its positive outlook. However, the high debt-equity ratio of 1.01 times and an expensive valuation with a PEG ratio of 8.5 could temper enthusiasm among investors, suggesting that while the stock is currently rising, underlying financial metrics may warrant caution.