Why is Relaxo Footwear falling/rising?

As of 22-Aug, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at 477.35, reflecting a decrease of 3.95 (-0.82%). The stock has underperformed its sector by 0.3% today, and while it is trading higher than its 5-day, 20-day, 50-day, and 100-day moving averages, it remains below the 200-day moving average. Over the past week, the stock has shown a positive return of 9.07%, but it has significantly underperformed over the longer term, with a year-to-date decline of 23.17% and a staggering 41.72% drop over the past year. The company has faced negative results for the last five consecutive quarters, with a decrease in operating profit and a low net sales figure, contributing to its poor long-term growth outlook. Additionally, the stock is trading at a premium compared to its peers, and there has been a decrease in institutional investor participation, which may further impact investor confidence.
In the broader market context, Relaxo Footwears Ltd's recent performance contrasts sharply with the benchmark, as the Sensex has gained 4.05% year-to-date. The stock's decline is exacerbated by its consistent underperformance against the benchmark over the last three years, where it has generated negative returns while the broader market has shown resilience. The falling participation from institutional investors, who typically have more resources to analyze company fundamentals, suggests a lack of confidence in the stock's future performance, further contributing to its downward trajectory.