Why is Ashok Leyland falling/rising?

As of 04-Sep, Ashok Leyland Ltd. is currently priced at Rs 128.10, reflecting a decrease of Rs 2.1 or 1.61%. The stock has been experiencing a downward trend, having fallen consecutively for the last two days, resulting in a total decline of 1.73%. Despite this recent drop, the stock has shown positive performance over the past month, with a return of 4.53%, and it remains close to its 52-week high, just 4.96% away from Rs 134.45. The stock's performance today has outpaced its sector by 1.85%, and there has been an increase in investor participation, with delivery volume rising by 11.09% against the 5-day average. However, the broader auto sector, particularly trucks, has seen a decline of 3.45%, which may be influencing the stock's recent performance.
In the broader market context, Ashok Leyland's short-term performance has lagged behind the Sensex, which has increased by 0.80% over the past week. Despite this, the company has demonstrated strong long-term growth, with net sales increasing at an annual rate of 24.06% and operating profit at 39.90%. The stock's attractive valuation, trading at a discount compared to its peers, along with a PEG ratio of 0.8, suggests potential for future growth. While the stock has generated a modest return of 2.26% over the past year, its profits have risen significantly by 28.2%, indicating a healthy financial outlook that may support a recovery in stock price moving forward.