Why is Asian Paints falling/rising?

As of 11-Aug, Asian Paints Ltd. is experiencing a price increase, with its current price at 2,495.05, reflecting a rise of 19.75 or 0.8%. The stock has outperformed its sector today by 0.8%, and it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has gained 1.85%, while it has shown a 2.27% increase over the last month. However, it is important to note that the company has declared negative results for the last four consecutive quarters, with a significant decline in profits and a consistent underperformance against benchmarks over the past three years. Despite this, the company maintains strong long-term fundamentals, including a high return on equity and low debt-to-equity ratio, which may contribute positively to investor sentiment.
In the broader market context, Asian Paints has outperformed the Sensex, which has declined by 0.51% over the past week. While the stock has shown positive short-term returns, it has underperformed the benchmark over the last year, generating a return of -17.91% compared to the Sensex's 1.13% increase. The high institutional holdings at 32.89% suggest that informed investors are still confident in the company's long-term potential, despite recent negative results. This combination of short-term outperformance and strong institutional backing may be contributing to the stock's current upward movement, even as it faces challenges in its financial performance.