Why is Ashok Leyland falling/rising?

As of 18-Aug, Ashok Leyland Ltd. is experiencing a significant rise in its stock price, currently at 131.85, reflecting an increase of 9.9 points or 8.12%. The stock has reached a new 52-week high of Rs.132.8 today and has outperformed its sector by 2.53%. Over the last three days, the stock has gained 10.43%, and it opened with a gain of 2.83% today. In terms of performance against benchmarks, Ashok Leyland has shown impressive returns, with a 1-week increase of 9.87% compared to the Sensex's 0.83% rise, and a year-to-date return of 19.56% versus the Sensex's 4.01%. The company's strong fundamentals, including a healthy annual growth rate in net sales of 24.06% and operating profit of 39.90%, contribute positively to its stock movement. However, it is important to note that the company has a high debt-to-equity ratio of 3.06, which poses a risk.
Broader Market Context: The broader market context shows that while Ashok Leyland has been outperforming the Sensex and its sector, the overall market has seen mixed performance, with the Sensex only gaining 0.83% over the past week. The auto sector, particularly trucks, has also seen a rise of 5.78%, indicating a favorable environment for Ashok Leyland. The rising investor participation, evidenced by an increase in delivery volume, further supports the stock's upward movement. Overall, the combination of strong company performance, sector growth, and positive investor sentiment has contributed to the stock's rise in price.