Why is Timex Group falling/rising?

As of 29-Aug, Timex Group India Ltd's stock price is rising, currently at Rs. 317.35, reflecting an increase of Rs. 15.1 or 5.0%. The stock has recently hit a new 52-week and all-time high, outperforming its sector by 4.83%. It has shown a strong performance over the last four days, gaining 14.32% in that period. The stock is trading above all its moving averages, indicating a bullish trend. Additionally, the company has demonstrated robust financial health, with a low Debt to EBITDA ratio and significant growth in net profit and operating profit, which supports positive investor sentiment. However, there is a concern regarding decreasing promoter confidence, as they have reduced their stake by 15% in the last quarter.
Broader market context shows that while Timex Group has been performing exceptionally well, with a year-to-date return of 63.96% and a one-year return of 105.87%, the benchmark Sensex has seen a modest increase of only 2.14% year-to-date and a decline of 2.83% over the past year. This stark contrast highlights the stock's strong market-beating performance, particularly over the last month where it gained 50.08% compared to the Sensex's decline of 1.88%. The rising investor participation and liquidity further indicate a favorable environment for the stock, despite the potential risks associated with the promoter's reduced stake.