Why is Indigo Paints falling/rising?

As of 29-Jul, Indigo Paints Ltd is experiencing a price increase, currently at 1,205.15, reflecting a rise of 63.65 or 5.58%. Today's price summary indicates that the stock has outperformed its sector by 4.3% and has shown a trend reversal after three consecutive days of decline. The stock reached an intraday high of Rs 1,235.6, demonstrating significant volatility with an intraday fluctuation of 6.22%. Despite a year-to-date decline of 14.36% and a one-year drop of 18.85%, the company has reported positive quarterly results, including a 64.3% growth in PAT and record net sales, which may have contributed to the recent uptick in stock price. Additionally, the company maintains a high return on equity (ROE) of 15.04% and a low debt-to-equity ratio, suggesting strong management efficiency and financial health, which could attract investor interest.
In the broader market context, Indigo Paints has shown a modest short-term return of 0.55% over the past week, while the benchmark Sensex has declined by 1.03% during the same period. This relative outperformance may indicate a favorable perception of the stock compared to the overall market. However, the stock's year-to-date performance remains significantly lower than the Sensex's gain of 4.09%, highlighting a challenging environment for the company. The decline in delivery volume by 29.15% against the five-day average suggests a decrease in investor participation, which could temper the stock's upward momentum despite today's gains.