Why is Asian Paints falling/rising?

As of 30-Jul, Asian Paints Ltd. is experiencing a price increase, currently at 2,415.15, with a change of 13.45 (0.56%) upward. The stock has been gaining for the last three days, showing a total return of 3.29% during this period. It is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend. Additionally, there has been a significant rise in investor participation, with delivery volume increasing by 136.33% against the 5-day average. Despite the stock's long-term underperformance, with a return of -19.62% over the past year, its strong long-term fundamentals, including a healthy return on equity of 24.35% and low debt-to-equity ratio, contribute to its recent upward movement.
In the broader market context, Asian Paints has outperformed the benchmark Sensex in the short term, with a 1-week return of +1.43% compared to the Sensex's -1.50%. This divergence highlights the stock's relative strength amidst a declining market. However, it is important to note that the company has faced negative results over the last four consecutive quarters, with a decline in profit after tax and consistent underperformance against broader indices over the past three years. Despite these challenges, the stock's liquidity and strong institutional holdings suggest a degree of confidence among investors, which may be supporting its recent price rise.