Why is Timex Group falling/rising?

As of 14-Aug, Timex Group India Ltd is experiencing a price increase, currently at 276.15, reflecting a change of 1.4 (0.51%) upward. The stock has shown strong performance recently, gaining 5.52% over the last two days and is currently close to its 52-week high, just 4.98% away from Rs 289.9. In terms of returns, the stock has outperformed the Sensex, with a 1-week return of +0.40% compared to the benchmark's -0.03%, and a remarkable +24.20% over the past month against the Sensex's -2.01%. The company has demonstrated robust financial health, with a low Debt to EBITDA ratio of 1.10 times and impressive growth in net profit and operating profit, which have increased by 503.7% and 48.40% annually, respectively. However, there are concerns regarding promoter confidence, as they have reduced their stake by 15%, which may indicate a lack of confidence in the company's future.
Broader Market Context: The stock's recent performance stands in contrast to the broader market, as it has consistently outperformed the Sensex over various time frames, including a staggering +97.82% return over the past year compared to the Sensex's +1.89%. This strong performance suggests that investor sentiment towards Timex Group remains positive despite the slight decline in delivery volume, which has decreased by 17.86% against the 5-day average. The stock's liquidity remains adequate for trading, indicating that while there are some risks, particularly regarding promoter confidence and valuation concerns, the overall market context supports a favorable outlook for Timex Group India Ltd.