Why is Timex Group falling/rising?

As of 18-Aug, Timex Group India Ltd's stock price is rising, currently at Rs. 283.25, reflecting an increase of Rs. 7.1 or 2.57%. The stock has recently hit a new 52-week high of Rs. 289.95 and has shown strong performance, gaining 8.23% over the last three days. It has outperformed its sector by 1.28% today and has consistently generated impressive returns, including a 102.54% increase over the past year. The company's strong financial health is underscored by a low Debt to EBITDA ratio of 1.10 times and significant growth in net profit and operating profit, which have risen by 503.7% and 48.4% annually, respectively. However, there are concerns regarding decreasing promoter confidence, as they have reduced their stake by 15% in the last quarter, which may indicate a lack of confidence in the company's future.
In the broader market context, Timex Group has outperformed the Sensex, with a 1-week return of 3.23% compared to the benchmark's 0.83%. This trend of outperformance is evident over longer periods as well, with the stock achieving a 46.34% return year-to-date versus the Sensex's 4.01%. Despite the positive short-term and long-term performance, the stock's valuation appears expensive with a ROCE of 29.6 and a PEG ratio of 0.5, suggesting that while the stock is currently rising, there are underlying valuation concerns that investors should consider.