Why is Timex Group falling/rising?

As of 19-Aug, Timex Group India Ltd's stock price is currently at 275.65, reflecting a decline of 7.6 points or 2.68%. The stock has recently experienced a trend reversal, falling after three consecutive days of gains. Today's performance indicates that it underperformed its sector by 3.98%, with an intraday low of Rs 273. Despite this decline, the stock has shown strong performance over the past week, month, year, and three years, with returns of 5.33%, 23.22%, 88.54%, and 226.60%, respectively. Positive factors such as a low Debt to EBITDA ratio and significant growth in net profit and operating profit support the stock's long-term potential. However, the recent decrease in promoter stake by 15% raises concerns about confidence in the company's future.
Broader Market Context: In the short term, Timex Group's performance has outpaced the benchmark Sensex, which has only gained 1.76% over the past week. This indicates that while the stock is currently facing a decline, it has been performing well relative to the broader market trends. The stock's strong historical performance, with an 88.54% return over the last year, contrasts with the Sensex's modest 4.49% gain year-to-date, suggesting that the stock has been a market leader despite recent fluctuations.