Why is Asian Paints falling/rising?

As of 07-Aug, Asian Paints Ltd. is experiencing a price increase, currently at 2,506.10, reflecting a rise of 14.8 points or 0.59%. The stock has outperformed its sector by 0.95% today and has shown a consecutive gain over the last two days, with a total return of 2.8% during this period. Despite a significant decline in delivery volume, which fell by 52.11% against the 5-day average, the stock is trading above its moving averages across various time frames. The company boasts strong long-term fundamentals, including a healthy average Return on Equity (ROE) of 24.35% and a low Debt to Equity ratio. However, it has faced challenges, such as negative results over the last four quarters and a decline in profits, which may temper investor enthusiasm.
In the broader market context, Asian Paints has outperformed the Sensex in the short term, with a 4.86% gain over the past week compared to the benchmark's decline of 0.69%. While the stock has shown positive movement recently, it has underperformed against the benchmark over the longer term, with a 19.17% decline in the past year compared to the Sensex's modest gain of 1.45%. The stock's high institutional holdings at 32.89% suggest that informed investors are still confident in its long-term potential, despite recent underperformance and negative profit trends.