Why is Relaxo Footwear falling/rising?

As of 02-Sep, Relaxo Footwears Ltd is currently priced at 485.85, reflecting a decrease of 1.05, or 0.22%. The stock has recently underperformed its sector by 1.28% and has experienced a trend reversal, falling after two consecutive days of gains. Despite a positive performance over the past week and month, with returns of 6.00% and 9.35% respectively, the stock has significantly underperformed over the longer term, with a year-to-date decline of 21.80% and a staggering 39.68% drop over the past year. The company has a low debt-to-equity ratio, but it has reported negative results for the last five consecutive quarters, leading to concerns about its long-term growth potential. Additionally, institutional investor participation has decreased, indicating a lack of confidence in the stock's fundamentals.
Broader Market Context: In comparison to the benchmark, the stock has shown a notable divergence, with the Sensex gaining 2.58% year-to-date while Relaxo Footwears has declined by 21.80%. This consistent underperformance against the benchmark over the last three years, coupled with a very expensive valuation relative to its peers, suggests that investor sentiment is cautious. The stock's recent price movement reflects broader concerns about its financial health, as evidenced by declining net sales and cash equivalents, which further exacerbates its challenges in attracting and retaining investor interest.