Why is Relaxo Footwear falling/rising?

As of 30-Jul, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at Rs 483.00, which reflects a decrease of Rs 6.00 or 1.23%. Today's performance indicates that the stock has underperformed its sector by 1.84%, with an intraday low of Rs 477.25, marking a 2.4% drop. Over the past week, the stock has decreased by 2.58%, while it has shown a modest gain of 10.78% over the last month. However, the company has faced significant challenges, including a negative trend in operating profit growth over the past five years and a consistent decline in net sales and cash reserves. Additionally, the stock's valuation appears expensive compared to its peers, contributing to investor skepticism.
In the broader market context, the stock's recent performance contrasts with the benchmark, as it has underperformed the Sensex, which has declined by only 1.50% over the same week. The stock's long-term returns have been particularly poor, with a staggering 44.70% drop over the past year, while the benchmark has remained relatively flat with a 0.03% increase. The decline in institutional investor participation, which has decreased by 0.8% in the last quarter, further reflects a lack of confidence in the company's prospects. Overall, the combination of poor financial performance, high valuation, and declining investor interest has contributed to the stock's downward movement.