Why is Timex Group falling/rising?

As of 15-Sep, Timex Group India Ltd's stock is rising, with a current price of Rs. 336.60, reflecting an increase of Rs. 16.6 or 5.19%. The stock has reached a new 52-week and all-time high today, outperforming its sector by 5.11%. Over the past week, the stock has gained 3.05%, and it has shown impressive performance over the last month with a 21.89% increase. The company has demonstrated strong financial health, evidenced by a low Debt to EBITDA ratio of 1.10 times and significant growth in net profit of 503.7%. However, there are concerns regarding decreasing promoter confidence, as they have reduced their stake by 15% in the last quarter.
Broader market context indicates that while Timex Group has outperformed the Sensex, which has risen by 1.24% over the past week, the stock's performance is particularly notable given its year-to-date return of 73.91% compared to the Sensex's 4.67%. The stock's ability to consistently generate positive results over the last four quarters and its strong operating profit growth of 48.40% contribute to its bullish trend. Despite the positive indicators, the reduction in promoter stake raises questions about future confidence in the company's direction, which could impact investor sentiment moving forward.