Why is Relaxo Footwear falling/rising?

As of 10-Jul, Relaxo Footwears Ltd is experiencing a price increase, currently at Rs 517.80, which reflects a rise of Rs 18.05 or 3.61%. The stock has shown strong performance recently, gaining 4.82% over the last two days and outperforming its sector by 2.67% today. Despite this short-term gain, the stock has underperformed significantly over the longer term, with a year-to-date decline of 16.66% and a one-year drop of 37.25%. The company has a low debt-to-equity ratio, which is a positive factor, but it has also reported negative results for the last four consecutive quarters, including a decline in operating profit and cash reserves, contributing to a perception of poor long-term growth.
In the broader market context, while Relaxo Footwear has outperformed the Sensex in the short term, with a 1-week return of 18.07% compared to a slight decline of 0.06% for the index, its long-term performance remains concerning. The stock has consistently underperformed against the benchmark over the past three years, indicating a trend that investors may be wary of despite recent gains. The stock's valuation is considered expensive relative to its peers, which, combined with its declining profits and negative quarterly results, suggests that the market may be cautious about its future performance.