Why is Sirca Paints falling/rising?

As of 30-Jul, Sirca Paints India Ltd's stock price is rising, currently at Rs. 427.85, reflecting an increase of Rs. 10.85 or 2.6%. The stock has recently hit a new 52-week high of Rs. 435.7, demonstrating strong performance with a 4.48% intraday increase. Over the past week, the stock has outperformed its sector by 2.04% and has gained 3.74% over the last two days. Additionally, the stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. The company has a low debt-to-equity ratio and has experienced a significant annual growth rate in operating profit of 63.34%. Institutional investors have also increased their stake, indicating growing confidence in the company's fundamentals.
In the broader market context, Sirca Paints has shown resilience compared to the benchmark, with a 1-month return of +12.74% against the Sensex's -2.54%. The stock has outperformed the BSE500 index, which has generated negative returns of -2.34% over the past year, while Sirca Paints has achieved a return of 16.99%. This strong performance, coupled with rising investor participation and liquidity, suggests that the stock is gaining traction despite broader market challenges.