Why is Relaxo Footwear falling/rising?

As of 01-Sep, Relaxo Footwears Ltd is currently priced at 486.90, reflecting an increase of 8.05 (1.68%). The stock has shown a positive trend recently, gaining 8.84% over the last two days and outperforming its sector by 0.66%. Despite this short-term gain, the stock has a concerning long-term performance, with a year-to-date decline of 21.63% and a staggering 51.83% drop over the past three years. The company has faced negative results for five consecutive quarters, with a low return on capital employed (ROCE) of 10.84% and a significant drop in net sales. Additionally, institutional investors have reduced their stake, indicating a lack of confidence in the company's future prospects.
In the broader market context, Relaxo Footwears has outperformed the Sensex in the short term, with a 4.52% gain over the past week compared to a 1.56% decline in the benchmark index. However, the stock's long-term performance remains weak, with a 38.90% drop over the past year, contrasting sharply with the Sensex's 2.85% gain year-to-date. This consistent underperformance against the benchmark and the overall market suggests that while there may be short-term gains, the long-term outlook for Relaxo Footwears remains challenging, influenced by poor financial results and declining institutional interest.