Why is Indigo Paints falling/rising?

As of 18-Jul, Indigo Paints Ltd is experiencing a slight increase in its stock price, currently at 1,202.20, reflecting a change of 2.65 or 0.22% upward. The stock has shown a positive performance today, outperforming its sector by 0.8%, and has been gaining for the last two days with a total return of 0.24% during this period. Despite this recent uptick, the stock has had a challenging year, with a year-to-date decline of 14.57% and a one-year return of -19.49%. However, the company has demonstrated high management efficiency with a return on equity (ROE) of 15.04% and a low debt-to-equity ratio, which may contribute positively to investor sentiment. Additionally, the stock is trading at a discount compared to its peers, which could attract value-focused investors.
In the broader market context, Indigo Paints' short-term return of +0.32% over the past week contrasts with the Sensex, which has declined by 0.90% during the same period. This indicates that the stock is performing relatively well compared to the overall market. However, the stock's liquidity has been affected by a significant drop in delivery volume, which fell by 51.24% against the five-day average, suggesting a decrease in investor participation. Despite this, the high institutional holdings at 29.15% indicate that more informed investors are backing the stock, potentially providing stability amid its recent volatility.