Why is Relaxo Footwear falling/rising?

As of 19-Aug, Relaxo Footwears Ltd is experiencing a price increase, with the current price at Rs 483.00, reflecting a rise of Rs 12.55 or 2.67%. The stock has shown a positive performance today, outperforming its sector by 1.2%, and has gained consecutively over the last three days, accumulating a total return of 11.16% during this period. Despite this short-term gain, the stock has underperformed over the longer term, with a decline of 39.62% over the past year and a significant drop of 51.80% over the last three years. The company has a low debt-to-equity ratio, which is a positive factor; however, it has reported negative results for the last five consecutive quarters, indicating poor long-term growth prospects.
In the broader market context, Relaxo Footwears has outperformed the Sensex in the short term, with a weekly return of 10.61% compared to the Sensex's 1.76%. However, the stock's long-term performance remains concerning, as it has consistently underperformed against the benchmark over the past three years. Institutional investor participation has also declined, with a decrease of 0.8% in their stake, suggesting a lack of confidence in the company's fundamentals. Overall, while the recent price movement reflects short-term gains, the underlying financial challenges and long-term underperformance present significant headwinds for the stock.