Why is Relaxo Footwear falling/rising?

As of 11-Jul, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at 500.20, which reflects a decrease of 17.6 points or 3.4%. Today's price summary indicates that the stock has underperformed its sector by 2.28% and has fallen after two consecutive days of gains. The stock touched an intraday low of Rs 497.5, and the volume traded was closer to this low price, suggesting a lack of investor confidence. Over the past week, the stock has shown a positive return of 7.57%, but it has significantly underperformed over the longer term, with a year-to-date return of -19.49% and a one-year return of -39.60%. The company has reported negative results for the last four consecutive quarters, with a declining operating profit and low cash reserves, contributing to its poor long-term growth outlook.
In the broader market context, while the Sensex has shown a slight increase of 5.58% year-to-date, Relaxo Footwears has consistently underperformed against this benchmark, particularly over the last three years. The stock's recent performance, including a decline today, contrasts sharply with the benchmark's stability, highlighting investor concerns regarding the company's financial health and growth prospects. The stock's high valuation relative to its peers, combined with falling investor participation, further exacerbates the negative sentiment surrounding Relaxo Footwears Ltd.