Why is Asahi India Glas falling/rising?

As of 13-Oct, Asahi India Glass Ltd is experiencing a slight increase in its stock price, currently at Rs 898.45, reflecting a change of 0.45 (0.05%) upwards. The stock has shown strong performance recently, gaining 3.75% over the last two days and outperforming its sector by 0.51%. Additionally, it is trading above all key moving averages, indicating positive momentum. Over the past year, the stock has delivered a return of 22.15%, significantly outperforming the broader market, which has seen negative returns of -1.73%. The company's healthy long-term growth is underscored by an annual operating profit growth rate of 30.79%, contributing to its strong market position as the largest company in its sector.
In the broader market context, Asahi India Glass Ltd's short-term performance of +2.24% over the past week and +6.20% over the past month contrasts favorably with the Sensex, which has only gained +0.66% and +0.52%, respectively. This outperformance highlights the stock's resilience and investor confidence despite some negative factors, such as a decline in profit before tax and profit after tax in the latest quarter compared to previous averages. However, the stock's valuation appears expensive with a high enterprise value to capital employed ratio, which may temper some investor enthusiasm. Overall, the combination of strong recent performance, rising investor participation, and a solid market position contributes to the stock's upward movement.