Why is Kansai Nerolac falling/rising?

As of 22-Aug, Kansai Nerolac Paints Ltd is experiencing a decline in its stock price, currently at Rs 232.70, which reflects a decrease of Rs 5.7 or 2.39%. The stock has underperformed its sector by 0.41% today and has been on a downward trend, losing 4.87% over the last two days. It has also fallen significantly over various periods, with a year-to-date decline of 12.16% and a one-year return of -22.72%. The stock is trading below its moving averages across multiple time frames, indicating a bearish trend. Additionally, there has been a notable drop in investor participation, with delivery volume decreasing by 39.79% compared to the five-day average. While the company has a low debt-to-equity ratio and an attractive valuation, its profits have decreased by 5.8% over the past year, contributing to the negative sentiment surrounding the stock.
In the broader market context, the Sensex has shown a positive return of 4.05% year-to-date, contrasting sharply with Kansai Nerolac's poor performance. Over the past week, the stock has declined by 1.44%, while the Sensex has gained 0.88%, further highlighting the stock's underperformance relative to the market. This divergence suggests that investor sentiment may be more favorable towards the broader market compared to Kansai Nerolac, which is struggling with declining profits and reduced trading activity.