Why is Indigo Paints falling/rising?

As of 03-Jul, Indigo Paints Ltd is experiencing a price increase, currently valued at 1,199.30, reflecting a rise of 10.4 points or 0.87%. The stock has shown positive momentum, gaining 3.37% over the last three days and outperforming its sector by 0.34%. In the past week, it has risen by 2.88%, although it has faced challenges over longer periods, with a year-to-date decline of 14.78%. The company has demonstrated strong financial performance with record net sales and operating profit margins, alongside a high return on equity (ROE) of 15.04%. Additionally, the stock is trading at a discount compared to its peers, which may attract investor interest.
In the broader market context, while Indigo Paints has outperformed its sector recently, the benchmark Sensex has seen a slight decline of 0.62% over the past week. This indicates that the stock's positive movement is somewhat isolated from the general market trend. Despite a year-over-year return of -13.63%, the stock's recent gains could be bolstered by high institutional holdings at 29.15%, suggesting confidence from more resourceful investors. Overall, while the stock is currently rising, it remains under pressure from longer-term performance metrics compared to the broader market.