Why is Relaxo Footwear falling/rising?

As of 21-Jul, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at Rs 497.60, which reflects a decrease of Rs 9.15 or 1.81%. The stock has been underperforming, having fallen consecutively for the last two days with a total decline of 3.04%. In terms of returns, the stock has shown a positive performance over the past week with an increase of 1.50%, but it has significantly underperformed over the longer term, with a year-to-date decline of 19.91% and a staggering 39.52% drop over the past year. The company has also reported negative results for the last four consecutive quarters, with a low return on capital employed and a high price-to-book value compared to its peers, contributing to its recent price movement.
In the broader market context, while the Sensex has shown a slight decline of 0.06% over the past week, Relaxo Footwear's short-term performance has been relatively better, indicating some resilience. However, the stock's long-term performance has been consistently poor, underperforming the benchmark over the last three years. Additionally, there has been a notable decrease in institutional investor participation, which has fallen by 0.8% in the previous quarter, suggesting a lack of confidence in the company's fundamentals. This combination of negative financial indicators and declining investor interest is likely contributing to the stock's current downward trend.