Why is Asian Paints falling/rising?

As of 29-Jul, Asian Paints Ltd. is experiencing a rise in its stock price, currently at Rs 2,401.70, reflecting an increase of Rs 42.75 or 1.81%. The stock has shown positive momentum, gaining for the last two consecutive days with a total return of 2.71% during this period. Additionally, it outperformed its sector by 0.53% today, and the stock reached an intraday high of Rs 2,418. Despite a challenging year with a return of -18.72%, the company has demonstrated strong long-term fundamentals, including a healthy average Return on Equity (ROE) of 24.35% and a low Debt to Equity ratio. However, it is important to note that the company has faced negative results for the last four consecutive quarters, which may temper investor enthusiasm.
In the broader market context, Asian Paints has outperformed the Sensex in the short term, with a 1.55% gain over the past week compared to a decline of 1.03% for the benchmark. While the stock has shown resilience in the short term, it has consistently underperformed against the benchmark over the last three years, with a significant decline of -27.93% compared to the Sensex's growth of 41.28%. The recent rise in stock price may be attributed to increased investor participation, as evidenced by a 40.23% rise in delivery volume, indicating growing interest despite the company's recent financial challenges.