Why is Asian Paints falling/rising?

As of 01-Jul, Asian Paints Ltd. is currently priced at 2,368.85, reflecting an increase of 27.5 or 1.17%. The stock has shown a positive performance today, outperforming its sector by 0.34%, and reached an intraday high of Rs 2399.75, marking a 2.49% increase. Over the past week, the stock has risen by 4.12%, and in the last month, it has gained 4.81%. However, despite these short-term gains, the stock has experienced a significant decline of 19.07% over the past year, indicating a longer-term underperformance. The company boasts strong long-term fundamentals, with an average Return on Equity (ROE) of 24.35% and healthy net sales growth of 10.90% annually. However, negative results over the last three consecutive quarters and a high Price to Book Value ratio suggest that the stock may be overvalued, which could be contributing to its mixed performance.
In the broader market context, Asian Paints has outperformed the Sensex in the short term, with a 4.12% return over the past week compared to the benchmark's 2.00%. However, the stock's year-to-date performance of 3.80% lags behind the Sensex's 7.11% return, highlighting a struggle to keep pace with the market. Additionally, the stock's consistent underperformance over the last three years, coupled with a decline in investor participation, as evidenced by a 9.05% drop in delivery volume, raises concerns about its future trajectory. While high institutional holdings at 27.81% may provide some support, the overall sentiment remains cautious due to the company's recent financial struggles.