Why is Relaxo Footwear falling/rising?

As of 16-Jul, Relaxo Footwears Ltd is currently priced at 495.20, reflecting a slight increase of 0.7 (0.14%). The stock has shown a positive performance today, outperforming its sector by 0.46%, and has gained consecutively over the last two days, with a total return of 1.01% during this period. However, the stock's longer-term performance reveals a concerning trend, with a year-to-date decline of 20.30% and a staggering 40.69% drop over the past year. The company has faced negative results for the last four consecutive quarters, with a significant decline in operating profit and cash reserves, contributing to its perception as a strong sell. Additionally, the stock's valuation appears expensive compared to its peers, which may deter potential investors.
In the broader market context, Relaxo Footwears has underperformed against the Sensex, which has gained 5.75% year-to-date, while Relaxo has seen a decline of 20.30%. Over the past week, the stock has decreased by 0.91%, while the Sensex fell by 1.08%, indicating a relatively better performance in the short term. However, the significant drop in delivery volume by nearly 70% against the five-day average suggests a decrease in investor participation, which could further pressure the stock. Overall, while there are short-term gains, the long-term outlook remains bleak, influenced by poor financial performance and high valuations compared to historical averages.