Why is Sirca Paints falling/rising?

As of 23-Sep, Sirca Paints India Ltd's stock is rising, currently priced at 501.35, reflecting an increase of 12.1 or 2.47%. The stock has recently hit a new 52-week high of Rs 504.95 and has outperformed its sector by 3.6%. Over the past week, it has gained 3.87%, and year-to-date, it has shown a remarkable return of 48.07%. The company has reported positive financial results, including the highest net sales and operating profit margins, which have contributed to investor confidence. Additionally, institutional investors have increased their stake in the company, indicating a favorable outlook based on their analysis of the company's fundamentals.
In the broader market context, while the BSE500 index has experienced negative returns of -4.69% over the past year, Sirca Paints has managed to achieve a substantial return of 43.47% during the same period. This significant outperformance highlights the stock's resilience and attractiveness to investors, particularly in a challenging market environment. However, it is worth noting that there has been a decline in delivery volume, which may suggest a decrease in retail investor participation, but the overall liquidity remains adequate for trading.