Why is Timex Group falling/rising?

As of 11-Nov, Timex Group India Ltd's stock price is currently at 365.60, reflecting a decline of 17.5 points or 4.57%. The stock has underperformed its sector today by 4.01% and has been on a downward trend for the last two days, with a total loss of 9.34% during this period. It opened with a loss of 3.16% and reached an intraday low of Rs 363.95, indicating significant selling pressure. Despite a strong year-to-date return of 88.89% and impressive long-term performance, including a 96.61% increase over the past year, the stock's recent price movement appears to be influenced by short-term volatility and profit-taking by investors.
In the broader market context, the Sensex has shown a positive return of 0.49% over the past week, contrasting with Timex Group's decline of 1.11% during the same period. This suggests that the stock's recent struggles are not reflective of the overall market trend. While the company has demonstrated strong fundamentals, such as a low Debt to EBITDA ratio and consistent growth in net sales and operating profit, its high valuation metrics and premium trading compared to peers may be contributing to the current price decline. Additionally, the stock's recent performance may be affected by increased investor participation, as institutional investors have raised their stakes, indicating a mixed sentiment among market participants.