Why is Timex Group falling/rising?

As of 26-Aug, Timex Group India Ltd's stock price is rising, currently at Rs 291.50, reflecting an increase of Rs 9.6 or 3.41%. The stock has shown strong performance recently, gaining 5.01% over the last two days and outperforming its sector by 4.99%. It is also close to its 52-week high, just 4.24% away from Rs 303.85. Over the past week, the stock has risen by 5.75%, and it has delivered impressive returns of 90.52% over the past year, significantly outperforming the benchmark Sensex, which has seen a decline of 1.12% in the same period. The company's strong financial health, indicated by a low Debt to EBITDA ratio and substantial growth in net profit and operating profit, supports the positive momentum in its stock price.
In the broader market context, while the Sensex has experienced a slight decline of 1.05% over the past week, Timex Group's performance stands out with its significant gains. However, there are concerns regarding reducing promoter confidence, as they have decreased their stake by 15% in the previous quarter, which may indicate a lack of confidence in the company's future. Despite this, the stock's ability to generate robust returns and its healthy long-term growth prospects contribute to its rising price, making it a compelling investment option despite the risks associated with valuation and promoter sentiment.