Why is Timex Group falling/rising?

As of 08-Oct, Timex Group India Ltd's stock price is rising, currently at Rs. 402.90, reflecting an increase of Rs. 6.55 or 1.65%. The stock has recently hit a new 52-week and all-time high of Rs. 409.4, demonstrating strong performance with a 17.91% gain over the past week. It has outperformed its sector by 2.39% today and is trading above all key moving averages. The company's robust financial health is underscored by a low Debt to EBITDA ratio of 1.10 times and impressive growth metrics, including a 503.7% increase in net profit and a 48.40% annual growth rate in operating profit. However, there are concerns regarding reduced promoter confidence, as they have decreased their stake by 15% in the last quarter.
Broader market context shows that Timex Group has significantly outperformed the benchmark, with a 12.12% return over the past week compared to the Sensex's 0.98%. The stock's year-to-date performance is also remarkable, with a 108.16% increase against the Sensex's 4.65%. This strong relative performance indicates that investor sentiment remains positive despite the slight decline in promoter confidence, suggesting that the market is optimistic about the company's future growth potential and financial stability.