Why is Asian Paints falling/rising?

As of 14-Jul, Asian Paints Ltd. is experiencing a decline in its stock price, currently at 2,401.00, reflecting a decrease of 38.6 points or 1.58%. The stock has been losing value for the last three days, with a total drop of 3.91% during this period. Although it has shown some positive performance over the past month with an increase of 8.40%, it has underperformed significantly over the past year, with a decline of 19.95%. The company has declared negative results for the last three consecutive quarters, with a notable drop in profit after tax and return on capital employed, which has contributed to its recent price movement. Despite strong long-term fundamentals, including a healthy return on equity and low debt-to-equity ratio, the stock's expensive valuation and consistent underperformance against benchmarks have raised concerns among investors.
In the broader market context, Asian Paints' short-term performance of -1.74% over the past week contrasts with the Sensex, which has declined by only 1.42%. This indicates that while the market is facing challenges, Asian Paints is struggling even more than the overall market. The stock's liquidity remains adequate, with rising investor participation, but the negative sentiment stemming from its recent financial results and underperformance over the past three years has overshadowed these factors. Consequently, the stock's current trajectory reflects a combination of internal financial struggles and relative weakness compared to the broader market.