Why is Indigo Paints falling/rising?

As of 01-Jul, Indigo Paints Ltd is experiencing a price increase, currently at Rs 1,178.90, reflecting a rise of Rs 18.65 or 1.61%. Today's performance indicates that the stock has outperformed its sector by 0.78%, reaching an intraday high of Rs 1,188, which is a 2.39% increase. The stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average. Despite this positive movement, there has been a notable decline in investor participation, with delivery volume dropping by 40.03% compared to the 5-day average. The company has shown strong management efficiency with a high return on equity (ROE) of 15.04%, and its recent financial results indicate significant sales and profitability metrics, although the stock has seen a decline of 15.74% over the past year.
In the broader market context, Indigo Paints' short-term return of 1.02% over the past week is lower than the Sensex's return of 2.00% during the same period. While the stock has underperformed the benchmark over the year and three-year periods, it has shown a positive trend in the last month with a return of 9.16%, compared to the Sensex's 2.76%. The stock's valuation remains attractive, trading at a discount relative to its peers, and high institutional holdings at 29.15% suggest confidence from more knowledgeable investors. However, the overall market performance indicates that while Indigo Paints is making gains, it still faces challenges in maintaining momentum compared to broader market trends.