Why is Ashok Leyland falling/rising?

As of 02-Sep, Ashok Leyland Ltd. is experiencing a price increase, currently at Rs 130.35, reflecting a rise of Rs 2.35 or 1.84%. The stock has been gaining for the last two days, with a total return of 2.6% during this period. It is trading close to its 52-week high, just 3.15% away from Rs 134.45, and has touched an intraday high of Rs 132.8. The stock is performing well against its moving averages, trading higher than the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 20.04% compared to the 5-day average. The company has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 24.06% and operating profit at 39.90%. Despite a high debt-to-equity ratio of 3.06 times, the stock's attractive valuation and strong profit growth have contributed positively to its recent performance.
In the broader market context, Ashok Leyland's short-term performance has slightly outpaced the benchmark, with a 1-week return of -0.84% compared to the Sensex's -0.78%. However, over the past month, Ashok Leyland has outperformed the benchmark significantly, with a return of +8.31% against the Sensex's -0.55%. The stock's ability to generate returns of 3.84% over the past year, alongside a profit increase of 28.2%, indicates a strong market position, particularly as it has outperformed the BSE500 over various time frames. Overall, the combination of positive financial metrics, strong investor interest, and a favorable comparison to the broader market has contributed to the stock's rising price.