Why has Asian Paints been falling consistently in the market in the last few days?

Asian Paints has been on a downtrend for nearly two weeks on fears of demand destruction in near term due to Coronavirus and the continued shutdown. The stock is down nearly 20% in the last 2 weeks, when the Nifty has almost been flat. The marginal gains in paint demand in Jan-Feb were offset by weak sales in March. April is likely to be a zero month for APIL. Most consumers are expected to push back re-painting activities given the slowdown. APIL has also increased cash discounts by 3.5% and is likely to pressure margins.