Why is Asian Paints falling/rising?

As of 03-Jul, Asian Paints Ltd. is experiencing a price increase, currently at 2,430.40, reflecting a rise of 10.55 (0.44%). The stock has shown a positive trend, gaining 3.8% over the last three days, and has outperformed the Sensex with a 1-week return of +6.29% compared to the benchmark's -0.62%. The stock is trading above its 5-day, 20-day, 50-day, and 100-day moving averages, indicating a bullish momentum, although it remains below the 200-day moving average. Additionally, there has been a notable increase in investor participation, with delivery volume rising by 70.55% against the 5-day average. Despite the positive short-term performance, the company has faced challenges, including negative results for the last three consecutive quarters and a significant decline in profits over the past year.
Broader market context shows that while Asian Paints has had a strong short-term return, it has underperformed over the longer term, with a 1-year return of -16.92% compared to the Sensex's +4.07%. The company's fundamentals indicate strong long-term potential, with a healthy return on equity and low debt-to-equity ratio, but the recent negative earnings reports and consistent underperformance against the benchmark over the last three years raise concerns. Despite being the largest company in its sector and holding a significant market share, the stock's valuation appears expensive relative to its peers, which may temper investor enthusiasm in the face of its recent financial struggles.