Why is Asian Paints falling/rising?

As of 18-Jul, Asian Paints Ltd. is experiencing a decline in its stock price, currently at 2,382.10, which reflects a decrease of 16.95 points or 0.71%. The stock has been losing value for the last two days, with a total drop of 1.17% during this period. In terms of performance against benchmarks, the stock has underperformed with a 1-week return of -2.36% compared to the Sensex's -0.90%. Despite a positive long-term outlook characterized by strong fundamentals, including a healthy average Return on Equity (ROE) of 24.35% and consistent net sales growth, the company has faced challenges. It has reported negative results for the last three consecutive quarters, with a significant drop in profit after tax and return on capital employed, leading to a perception of an expensive valuation relative to its peers.
In the broader market context, while Asian Paints has shown a year-to-date return of 4.38%, it has significantly lagged behind the Sensex, which has a year-to-date return of 4.63%. The stock's recent performance is further impacted by a notable decline in investor participation, with delivery volumes falling by 46.75% against the 5-day average. This lack of engagement, combined with the company's consistent underperformance over the past three years, has contributed to the stock's current downward trend. Overall, despite its strong market position and long-term growth potential, the recent financial results and declining investor interest have led to a negative sentiment surrounding Asian Paints' stock.