Why is Timex Group falling/rising?

As of 03-Sep, Timex Group India Ltd's stock is rising, with a current price of 328.85, reflecting an increase of 3.4 (1.04%). The stock has recently hit a new 52-week and all-time high of Rs. 336.05, and it has outperformed its sector by 0.76%. Over the past week, the stock has gained 12.81%, and it has shown impressive performance with a 34.36% increase over the last month. The company's strong financial results, including a 503.7% growth in net profit and consistent positive results over the last four quarters, contribute to its bullish momentum. However, there are concerns regarding decreasing promoter confidence, as they have reduced their stake by 15%, which may indicate a lack of confidence in the company's future.
Broader market context indicates that while Timex Group has been performing exceptionally well, with a 113.89% return over the past year, the benchmark Sensex has declined by 2.41% during the same period. This stark contrast highlights the stock's strong market-beating performance. Despite a recent drop in investor participation, with delivery volume falling by 49.99% against the 5-day average, the stock remains liquid enough for trading. Overall, the combination of strong financial performance and significant returns relative to the broader market supports the stock's upward movement.