Why is Timex Group falling/rising?

As of 19-Sep, Timex Group India Ltd's stock price is currently at Rs 357.50, reflecting an increase of Rs 2.3 or 0.65%. The stock has shown strong performance recently, gaining 11.72% over the past week and 29.69% over the past month. It is also close to its 52-week high, just 0.7% away from Rs 360. Despite a slight decline in delivery volume, the stock has been trading above its moving averages, indicating positive momentum. The company's strong financial results, including a 503.7% growth in net profit and consistent positive quarterly results, contribute to its attractiveness as an investment. However, the recent decrease in promoter stake by 15% raises concerns about confidence in the company's future.
In the broader market context, Timex Group has significantly outperformed the Sensex, which has only increased by 0.88% over the past week, while Timex has risen by 11.72%. This trend continues over longer periods, with the stock generating 150.88% returns in the last year compared to a slight decline in the benchmark. The company's ability to service debt and healthy long-term growth prospects further bolster its position, despite the risks associated with high valuations and reduced promoter confidence. Overall, the stock's strong performance relative to the market and its solid financial health are key factors driving its recent rise.