Why is Sirca Paints falling/rising?

As of 18-Sep, Sirca Paints India Ltd is currently priced at 488.35, reflecting an increase of 1.35 (0.28%). The stock has recently hit a new 52-week high of Rs.495.8 and has outperformed its sector by 0.52%. Over the last two days, the stock has gained 1.18%, and it is trading above all key moving averages, indicating strong momentum. Additionally, the company reported its highest quarterly net sales and operating profit margins, which have contributed positively to investor sentiment. Institutional investors have also increased their stake in the company, suggesting growing confidence in its fundamentals.
In the broader market context, Sirca Paints has demonstrated impressive performance compared to the benchmark, with a 1-week return of +6.29% versus the Sensex's +1.80%, and a year-to-date return of +44.23% compared to the benchmark's +6.24%. Despite a recent decline in delivery volume, which has fallen by 35.19% against the 5-day average, the stock remains liquid enough for trading. Overall, the stock's ability to generate substantial returns in a challenging market environment, combined with positive institutional interest, supports its rising price trajectory.