Why is Relaxo Footwear falling/rising?

As of 22-Jul, Relaxo Footwears Ltd is experiencing a price increase, with its current price at 501.05, reflecting a rise of 3.45 (0.69%). The stock has shown a positive trend today, outperforming its sector by 1.4% and reversing a two-day decline. Over the past week, the stock has gained 1.32%, while it has significantly outperformed the benchmark Sensex over the past month with a return of 22.84% compared to the Sensex's -0.27%. However, the company has faced challenges, including a low Debt to Equity ratio and negative results for the last four consecutive quarters, which have contributed to a poor long-term growth outlook, with operating profit declining at an annual rate of -5.68% over the last five years.
In the broader market context, while Relaxo Footwear has shown some short-term resilience, it has consistently underperformed against the benchmark over the last three years, with a return of -38.82% in the past year compared to the Sensex's positive return of 2.09%. The stock's recent performance is also tempered by a decrease in institutional investor participation, which has fallen by 0.8% in the previous quarter, indicating a lack of confidence among more knowledgeable investors. This combination of short-term gains against a backdrop of long-term underperformance and declining investor interest suggests that while the stock may be rising in the short term, significant challenges remain.