Why is Relaxo Footwear falling/rising?

As of 09-Jul, Relaxo Footwears Ltd is currently priced at 499.75, reflecting an increase of 5.75, or 1.16%. The stock has shown a strong performance in the short term, with a 1-week return of +13.85% and a 1-month return of +12.66%. Today's trading saw the stock reach an intraday high of Rs 506.7, indicating positive momentum. However, despite this recent uptick, the stock has significant long-term challenges, including a poor operating profit growth rate of -5.68% over the last five years and negative results for the last four consecutive quarters. The stock's valuation appears expensive with a Price to Book Value of 5.9, and it has consistently underperformed against benchmarks, generating a -39.66% return over the past year.
In the broader market context, Relaxo Footwears has outperformed the Sensex by 0.57% today, which is notable given that the Sensex has only increased by 0.15% over the past week. While the stock's short-term performance is encouraging, the long-term outlook remains bleak, as evidenced by its -19.56% return year-to-date compared to the Sensex's +6.91%. The falling investor participation, with a delivery volume decrease of -18.49% against the 5-day average, further complicates the stock's position, suggesting that despite today's rise, investor confidence may be waning.