Why is Indigo Paints falling/rising?

As of 04-Jul, Indigo Paints Ltd is experiencing a slight increase in its stock price, currently at 1,201.10, reflecting a change of 1.8 (0.15%) upwards. The stock has shown a positive performance today, outperforming its sector by 0.45%, and has been on a consecutive gain streak for the last four days, accumulating a total return of 3.52% during this period. Over the past week, the stock has risen by 2.83%, while its one-month return stands at 11.71%. Despite a year-to-date decline of 14.65%, the company has demonstrated strong management efficiency with a high return on equity (ROE) of 15.04% and a low debt-to-equity ratio. Positive quarterly results, including the highest net sales and operating profit margins, contribute to its attractive valuation, as the stock trades at a discount compared to its peers.
In the broader market context, Indigo Paints' recent performance contrasts with the benchmark Sensex, which has declined by 0.74% over the past week. While the stock has shown resilience in the short term, its year-to-date performance remains significantly lower than the Sensex's gain of 6.77%. The rising investor participation, indicated by a 24.44% increase in delivery volume, suggests growing interest in the stock, which may be bolstered by high institutional holdings at 29.15%. This indicates that more informed investors are backing the stock, potentially supporting its recent upward movement despite its longer-term challenges.