Why is Relaxo Footwear falling/rising?

As of 14-Jul, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at Rs 490.25, which reflects a decrease of Rs 9.95 or 1.99%. The stock has underperformed its sector by 1.92% today and has been on a downward trend, falling for the last two consecutive days with a total decline of 5.32%. Over the past week, the stock has decreased by 3.19%, while its performance over the last month shows a positive return of 15.97%. However, the stock has significantly underperformed over the longer term, with a year-to-date return of -21.09% and a staggering -40.71% over the past year. The company has reported negative results for the last four consecutive quarters, contributing to its poor long-term growth outlook, as indicated by an annual operating profit decline of 5.68% over the last five years.
In the broader market context, the stock's recent performance contrasts with the benchmark, as the Sensex has only declined by 1.42% in the past week. This consistent underperformance against the benchmark over the last three years highlights the challenges faced by Relaxo Footwears Ltd. The company's low debt-to-equity ratio and majority ownership by promoters do not seem to offset the negative sentiment stemming from its declining profits and high valuation compared to peers. The falling investor participation, evidenced by a 65.94% drop in delivery volume, further indicates a lack of confidence among investors, contributing to the stock's downward trajectory.