Why is Indigo Paints falling/rising?

As of 02-Jul, Indigo Paints Ltd is currently priced at 1,188.90, reflecting a rise of 10.0 points or 0.85%. The stock has been gaining for the last two days, with a total return of 2.47% during this period. However, it has underperformed its sector by 0.6%. In terms of returns, the stock has shown a positive trend over the past week with a gain of 1.63%, and a notable increase of 10.49% over the past month. Despite these short-term gains, the stock has faced challenges over the longer term, with a year-to-date decline of 15.52% and a one-year return of -14.46%. Positive factors contributing to the stock's recent movement include high management efficiency reflected in a return on equity (ROE) of 15.04%, a low debt-to-equity ratio, and strong quarterly results with the highest net sales and operating profit margins recorded. Additionally, the stock is trading at a discount compared to its peers, which may attract investor interest.
In the broader market context, Indigo Paints has outperformed the Sensex in the short term, with a 1-week return of 1.63% compared to the Sensex's 0.79%. However, the stock's year-to-date performance is significantly lagging behind the benchmark, which has gained 6.75% during the same period. The rising investor participation, indicated by a 15.22% increase in delivery volume, suggests growing interest in the stock, potentially driven by its attractive valuation and institutional holdings at 29.15%. Despite the recent gains, the stock's longer-term performance remains a concern, as it has not kept pace with the broader market trends.