Why is Relaxo Footwear falling/rising?

As of 04-Jul, Relaxo Footwears Ltd is experiencing a price increase, with its current price at Rs 465.00, reflecting a rise of Rs 26.45 or 6.03%. Today's price summary indicates that the stock outperformed its sector by 4.76%, reaching an intraday high of Rs 469, which is a 6.94% increase. Despite this positive movement, the stock has shown a significant decline over the longer term, with a year-to-date drop of 25.16% and a staggering 44.22% decrease over the past year. The company has faced challenges, including negative results for the last four consecutive quarters and a poor long-term growth rate in operating profit, which has declined at an annual rate of 5.68% over the last five years. Additionally, the stock is trading at a premium compared to its peers, with a high Price to Book Value of 5.5, indicating a very expensive valuation.
In the broader market context, the stock's short-term performance has been notably better than the benchmark, as it has gained 9.48% over the past week while the Sensex has fallen by 0.74%. However, the longer-term picture remains concerning, with Relaxo Footwear underperforming the benchmark significantly over the past three years, generating returns of -52.39% compared to the Sensex's 56.73% gain. This consistent underperformance, combined with the company's financial struggles, suggests that while there may be short-term gains, the overall outlook for Relaxo Footwear remains weak in the context of the broader market.