Why is Relaxo Footwear falling/rising?

As of 29-Jul, Relaxo Footwears Ltd is currently priced at 489.00, reflecting an increase of 10.0 or 2.09%. The stock has shown a trend reversal, gaining after two consecutive days of decline. However, it has underperformed the benchmark Sensex over the past week with a return of -2.40% compared to the Sensex's -1.03%. Despite a recent outperformance of the sector by 0.7%, the stock's delivery volume has decreased by 20.2% against the 5-day average, indicating falling investor participation. The company has a low Debt to Equity ratio, but it has reported negative results for the last four consecutive quarters, with a significant decline in operating profit and cash reserves, contributing to a perception of poor long-term growth.
In the broader market context, while Relaxo Footwear has gained 15.13% over the past month, it has significantly underperformed the benchmark over the longer term, with a year-to-date return of -21.29% and a staggering -43.80% over the past year. This consistent underperformance against the BSE500 and the decline in institutional investor participation, which has decreased by 0.8% in the last quarter, suggests a lack of confidence in the stock's future performance. The stock is trading at a premium compared to its peers, which, combined with its poor financial metrics, may deter potential investors despite the recent uptick in price.