Why is Asahi India Glas falling/rising?

As of 23-Sep, Asahi India Glass Ltd is experiencing a price increase, currently at Rs 915.30, reflecting a rise of Rs 30.2 or 3.41%. The stock has shown strong performance recently, with a 4.15% gain over the last two days and is currently trading just 0.73% below its 52-week high of Rs 922. It has outperformed its sector by 0.49% today and is trading above all its moving averages, indicating positive momentum. Despite a decline in delivery volume, which fell by 68.05% against the 5-day average, the company has demonstrated healthy long-term growth with an annual operating profit increase of 30.79%. However, there are concerns regarding a significant drop in PAT for the last quarter and a high debt-equity ratio, which may affect investor sentiment.
In the broader market context, Asahi India Glass has outperformed the benchmark Sensex, which has seen a decline of 0.34% over the past week, while the stock itself has gained 3.25%. Over the past year, the stock has generated an 11.28% return, contrasting with the negative returns of -3.33% from the Sensex, showcasing its resilience in a challenging market environment. The company's market cap of Rs 21,513 crore positions it as a leader in its sector, accounting for over half of the industry's sales. This strong market position, combined with its recent performance, suggests that investors are responding positively to its growth potential, despite some underlying financial concerns.