Why is Relaxo Footwear falling/rising?

As of 28-Jul, Relaxo Footwears Ltd is currently priced at 479.00, reflecting a decrease of 2.7, or 0.56%. The stock has been underperforming recently, with a consecutive fall over the last two days, resulting in a total decline of 4.08%. Despite touching an intraday high of Rs 491.35 today, the stock's performance over the past week shows a decline of 3.74%, while it has gained 12.77% over the past month. However, the long-term outlook remains concerning, as the company has reported negative results for the last four consecutive quarters, with a significant drop in operating profit and cash reserves. Additionally, the stock is trading at a premium compared to its peers, and there has been a decrease in institutional investor participation, which may indicate a lack of confidence in the company's future performance.
In the broader market context, the stock's short-term performance has been worse than the benchmark, with the Sensex declining only 1.59% over the same week. The consistent underperformance of Relaxo Footwears against the benchmark over the last three years, coupled with a year-to-date return of -22.90%, highlights the challenges the company faces in regaining investor confidence. The overall market sentiment appears to be cautious, particularly given the company's poor long-term growth prospects and the decline in institutional stakes, which could further pressure the stock price in the near term.