Why is Asian Paints falling/rising?

As of 08-Aug, Asian Paints Ltd. is experiencing a decline in its stock price, currently at 2,475.30, reflecting a decrease of 30.8 points or 1.23%. The stock has underperformed its sector by 0.55% today and has shown a trend reversal, falling after two consecutive days of gains. In terms of returns, the stock has increased by 1.89% over the past week but has seen a slight decline of 0.37% over the past month. Despite a strong long-term fundamental strength indicated by a healthy average Return on Equity (ROE) of 24.35% and a low Debt to Equity ratio, the company has faced negative results for the last four consecutive quarters, with a significant drop in profits. This underperformance, coupled with an expensive valuation relative to its peers, has contributed to the stock's recent decline.
In the broader market context, while Asian Paints has outperformed the benchmark Sensex in the short term with a 1.89% gain over the past week compared to the Sensex's decline of 0.92%, its long-term performance has been concerning. The stock has underperformed the benchmark over the last three years, with a significant drop of 17.52% in the past year, while the Sensex has gained 1.23%. This consistent underperformance against the benchmark, along with the company's recent negative financial results, has likely influenced investor sentiment negatively, leading to the current decline in stock price.