Why is Ashok Leyland falling/rising?

As of 23-Sep, Ashok Leyland Ltd. is experiencing a price increase, with its current price at Rs. 144.10, reflecting a rise of 4.75 (3.41%). The stock has recently hit a new 52-week high of Rs. 144.5 and has outperformed its sector by 1.25%. Over the past week, the stock has gained 7.10%, and year-to-date, it has risen by 30.67%, significantly outperforming the Sensex, which has only increased by 5.07%. Positive financial indicators, such as a robust annual growth rate in net sales of 24.06% and an operating profit increase of 39.90%, contribute to the stock's favorable movement. However, the company does carry a high debt burden, with a debt-to-equity ratio of 3.06 times, which poses a risk.
Broader Market Context: In the short term, Ashok Leyland's performance has been notably strong, with a 7.10% increase over the past week, contrasting sharply with the Sensex's decline of 0.34%. This outperformance is indicative of strong investor confidence in the company's long-term growth potential, especially given its healthy cash flow and attractive valuation metrics compared to peers. The overall positive sentiment in the auto sector, particularly in trucks, which has gained 2.22%, further supports the stock's upward trajectory. Despite a recent decline in investor participation, the liquidity of the stock remains adequate for trading, suggesting that the current price movement is supported by solid fundamentals and market conditions.