Why is Timex Group falling/rising?

As of 17-Sep, Timex Group India Ltd's stock price is currently at Rs. 351.85, reflecting a decrease of Rs. 1.55 or 0.44%. The stock recently hit a new 52-week high of Rs. 360 but has seen a decline after two consecutive days of gains, touching an intraday low of Rs. 345. Despite this recent dip, the stock has shown impressive performance over various periods, with a 1-week return of 9.70%, a 1-month return of 27.41%, and a year-to-date return of 81.79%. The company's strong financials, including a low Debt to EBITDA ratio and significant growth in net profit, support a positive outlook, although a recent decrease in promoter stake may indicate some reduced confidence in the company's future.
In the broader market context, while the Timex Group has outperformed the Sensex significantly over the past year, generating a return of 136.86% compared to the Sensex's -0.46%, the recent price movement reflects a trend reversal in the short term. The stock's performance today aligns with sector trends, and the increased investor participation, evidenced by a 156.52% rise in delivery volume, suggests ongoing interest despite the recent decline. However, the stock's high valuation metrics and the reduction in promoter confidence could pose risks that may affect investor sentiment moving forward.