Why is Ashok Leyland falling/rising?

As of 22-Aug, Ashok Leyland Ltd. is currently priced at 131.00, showing no change (0.00%). The stock has recently outperformed its sector by 1.71% and is trading close to its 52-week high, just 2.63% away from Rs 134.45. Over the past week, the stock has increased by 7.42%, while its one-month return stands at 5.65%. Despite a slight decline in investor participation, with delivery volume falling by 11.2% against the five-day average, the stock remains liquid enough for trading. The company has demonstrated strong long-term growth, with net sales increasing at an annual rate of 24.06% and operating profit rising by 39.90%. However, it carries a high debt burden, reflected in a debt-to-equity ratio of 3.06 times, which poses a risk to its valuation.
Broader market context indicates that Ashok Leyland's performance has been robust compared to the benchmark, as it has generated a year-to-date return of 18.79% against the Sensex's 4.05%. This significant outperformance over the last three years, where the stock rose by 84.25% compared to the benchmark's 38.34%, highlights its strong market position. While the stock's recent stability at the current price may suggest a pause in upward momentum, its consistent returns and attractive valuation relative to peers indicate a positive outlook in the context of broader market trends.