Why is Asian Paints falling/rising?

As of 08-Jul, Asian Paints Ltd. is experiencing a price increase, currently at 2,484.60, reflecting a rise of 41.2 points or 1.69%. The stock has shown positive momentum, gaining 2.47% over the last two days and outperforming its sector by 0.52% today. In the past week, it has risen by 4.89%, and over the last month, it has increased by 10.52%. Despite a long-term decline of 14.24% over the past year, the company maintains strong fundamental strengths, including a healthy average Return on Equity (ROE) of 24.35% and significant institutional holdings at 27.81%. However, it is important to note that the company has reported negative results for the last three consecutive quarters, which may weigh on investor sentiment.
In the broader market context, Asian Paints has outperformed the Sensex, which has only seen a marginal increase of 0.02% over the past week. The stock's recent performance, particularly its short-term gains, contrasts with its longer-term underperformance against benchmarks over the last three years. While the stock is currently liquid enough for trading, the falling delivery volume suggests a decrease in investor participation, which could impact future price movements. Overall, while the stock is rising in the short term, the negative quarterly results and historical underperformance remain critical factors for investors to consider.