Why is Ashok Leyland falling/rising?

As of 22-Sep, Ashok Leyland Ltd. is experiencing a decline in its stock price, currently at 139.35, which reflects a decrease of 1.55 or 1.1%. Despite this recent drop, the stock has shown strong performance over the past week and month, with returns of 4.07% and 6.37%, respectively. The stock is also close to its 52-week high, just 2.4% away from Rs 142.7. However, today's performance indicates a trend reversal after four consecutive days of gains. The stock remains above its moving averages across various time frames, and there has been a notable increase in investor participation, with delivery volume rising significantly. 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%, although it carries a high debt-to-equity ratio of 3.06 times, which poses a risk.
Broader market context shows that Ashok Leyland has outperformed the Sensex, with a year-to-date return of 26.37% compared to the benchmark's 5.15%. This strong performance over the long term, alongside positive financial metrics such as a return on capital employed (ROCE) of 16.2 and a PEG ratio of 0.9, indicates that the stock is trading at an attractive valuation relative to its peers. However, the recent decline may reflect profit-taking after a period of gains, as well as the inherent risks associated with its high debt levels. Overall, while the stock has shown resilience and strong growth potential, the current price movement suggests a temporary setback in the context of its recent performance.