So, I recently purchased the watch. I have very limited usage, and I wear the watch only when I step out.
For the rest of the time when I am not wearing a watch I put the watch in the battery saver mode. When the battery is above 50%, the battery drain is less, but once it goes to like 40%, the battery starts draining very quickly even in the battery saver mode. That is quite strange. Battery behavior is not consistent. Maybe some software update can fix this.