Why is Timex Group falling/rising?

As of 22-Sep, Timex Group India Ltd's stock price is rising, currently at 359.70, reflecting an increase of 4.35 (1.22%). The stock has recently hit a new 52-week and all-time high of Rs. 371 and has outperformed its sector by 1.76%. It has been on a consecutive gain streak for the last three days, with a total increase of 2.23% during this period. Over the past week, the stock has risen by 6.86%, and it has shown impressive long-term performance, with a year-to-date increase of 85.84% and a remarkable 151.54% rise over the past year. Positive factors contributing to this upward movement include strong financial results, with net profit growth of 503.7% and consistent positive results over the last four quarters. However, there are concerns regarding reducing 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 risen by 0.46% over the past week, the stock's strong performance is also reflected in its long-term returns, outperforming the Sensex over various periods, including a 219.59% increase over three years compared to the benchmark's 38.97%. This suggests that the stock's recent price rise is not only driven by company-specific factors but also by a favorable comparison to broader market trends, indicating robust investor interest despite some concerns about promoter confidence.