Why is Timex Group falling/rising?

As of 16-Sep, Timex Group India Ltd's stock price is rising, currently at Rs. 353.40, reflecting an increase of Rs. 16.8 or 4.99%. The stock has recently hit a new 52-week and all-time high, outperforming its sector by 3.56%. Over the past two days, it has gained 10.44%, and it is trading above all key moving averages. The stock has shown impressive returns, with a 1-week increase of 9.53% and a year-to-date rise of 82.59%. Positive factors contributing to this upward movement include strong financial performance, with a net profit growth of 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%, which may indicate a lack of confidence in the company's future.
Broader market context shows that while Timex Group has significantly outperformed the benchmark Sensex, which has only increased by 1.58% over the past week, the stock's strong performance is also supported by a healthy ability to service debt and a low Debt to EBITDA ratio. The stock's long-term growth prospects are bolstered by a robust operating profit growth rate of 48.40%. Despite these strengths, the stock's valuation appears expensive compared to its peers, and the decreasing promoter stake could pose risks to future performance. Overall, the combination of strong recent results and market-beating performance has driven the stock's rise in the short term.