Why is Relaxo Footwear falling/rising?

As of 29-Aug, Relaxo Footwears Ltd is experiencing a price increase, currently at Rs 478.85, reflecting a rise of Rs 31.5 or 7.04%. Today's performance indicates a trend reversal as the stock has gained after four consecutive days of decline, outperforming its sector by 5.36%. The stock reached an intraday high of Rs 489.1, showing a significant increase of 9.33%. However, despite this short-term gain, the stock has underperformed over the past year with a return of -40.40%, and it has consistently lagged behind the benchmark, the Sensex, over the last three years.
In the broader market context, Relaxo Footwear's short-term return of +0.31% over the past week contrasts with the Sensex's decline of -1.84%, indicating a relative strength in the stock's recent performance. Nonetheless, the company faces significant challenges, including negative results for the last five consecutive quarters and a low return on capital employed (ROCE) at 10.84%. Additionally, institutional investors have reduced their stake, reflecting a lack of confidence in the company's long-term growth potential, which is further compounded by a high price-to-book value ratio compared to its peers.