Why is Timex Group falling/rising?

As of 02-Sep, Timex Group India Ltd's stock price is currently at 325.45, reflecting an increase of 5.45 (1.7%). The stock has been on an upward trend, gaining for the last six days and rising 17.24% during this period. It is also close to its 52-week high, just 1.37% away from Rs 329.9. The stock has significantly outperformed the sector by 0.92% today and has shown impressive returns over various periods, including a 112.02% increase over the past year. Positive factors contributing to this rise include strong financial performance, with net profit growing by 503.7% and consistent positive results over the last four quarters. However, there are concerns regarding reduced promoter confidence, as they have decreased their stake by 15% in the last quarter.
Broader market context indicates that while Timex Group has been performing exceptionally well, the benchmark Sensex has seen a decline of 0.78% over the past week and 0.55% over the past month. This stark contrast highlights the stock's strong market-beating performance, particularly with a year-to-date return of 68.15% compared to the Sensex's 2.58%. Despite the positive momentum, the stock's expensive valuation and decreasing promoter confidence may pose risks, but the overall market context suggests that Timex Group is currently thriving against a backdrop of broader market challenges.