Why is Sirca Paints falling/rising?

As of 10-Jul, Sirca Paints India Ltd is experiencing a price increase, currently at Rs. 423.45, reflecting a rise of Rs. 5.7 or 1.36%. The stock has recently hit a new 52-week high of Rs. 430 and has outperformed its sector by 3%. Over the past six days, it has gained 14.29%, and today it opened with a gain of 2.93%. The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong upward momentum. Additionally, the company has shown healthy long-term growth, with operating profit increasing at an annual rate of 63.34%, and it has a low debt-to-equity ratio, contributing positively to investor sentiment.
In the broader market context, Sirca Paints has significantly outperformed the benchmark Sensex, with a 1-week return of 13.88% compared to a slight decline of 0.06% for the index. Over the past month, the stock has risen by 10.78%, while the Sensex has only increased by 0.97%. Year-to-date, Sirca Paints has achieved a return of 25.06%, far exceeding the Sensex's 6.46%. This strong performance relative to the market suggests that investor confidence in Sirca Paints is robust, driven by its solid financial health and market-beating returns.