Why is Sirca Paints falling/rising?

As of 24-Sep, Sirca Paints India Ltd is experiencing a price increase, currently at Rs. 506.95, reflecting a rise of Rs. 5.7 or 1.14%. The stock has recently hit a new 52-week high of Rs. 510 and has outperformed its sector by 0.76%. Over the past week, the stock has gained 4.10%, and in the last month, it has risen by 10.70%. Additionally, the company reported strong quarterly results with net sales growing by 22.3%, and institutional investors have increased their stake, indicating growing confidence in the company's fundamentals. The stock's low debt-to-equity ratio and consistent performance above moving averages further support its upward movement.
In the broader market context, while the BSE500 index has seen negative returns of -5.32% over the past year, Sirca Paints has managed to generate a remarkable 44.43% return in the same period. This stark contrast highlights the stock's resilience and strong market position. The stock's recent performance, including a consecutive gain over the last six days and increased investor participation, suggests that it is currently favored by investors despite the overall market's struggles.