Why is Asian Paints falling/rising?

As of 04-Aug, Asian Paints Ltd. has seen its stock price rise to 2,449.75, reflecting an increase of 18.75 or 0.77%. The stock has been gaining momentum, with a consecutive gain over the last two days and a total return of 2.5% during this period. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating positive short-term momentum. Additionally, there has been a significant increase in delivery volume, which rose by 101.11% against the 5-day average, suggesting rising investor participation. However, despite these positive indicators, the company has reported negative results for the last four consecutive quarters, with a decline in profit after tax and consistent underperformance against benchmarks over the past three years.
In the broader market context, Asian Paints has outperformed the Sensex in the short term, with a 1-week return of 3.85% compared to the Sensex's 0.16%. While the stock has shown some resilience with a year-to-date return of 7.35%, it has still faced challenges, including a significant decline of 21.16% over the past year. The company's strong long-term fundamentals, such as a healthy return on equity and low debt-to-equity ratio, are somewhat overshadowed by its recent negative financial performance and high valuation metrics. This combination of factors contributes to the stock's current upward movement, despite the underlying concerns regarding its profitability and market performance.