Why is Relaxo Footwear falling/rising?

As of 03-Sep, Relaxo Footwears Ltd is experiencing a price increase, currently at Rs 502.80, which reflects a rise of Rs 16.95 or 3.49%. The stock has shown positive performance today, outperforming its sector by 2.62% and reaching an intraday high of Rs 506.9. Over the past week, the stock has gained 9.70%, and in the last month, it has increased by 13.17%. However, despite this short-term rise, the company has faced significant challenges, including a poor long-term growth outlook with operating profit declining at an annual rate of -2.14% over the last five years. The company has also reported negative results for the last five consecutive quarters, with key metrics such as return on capital employed (ROCE) and net sales hitting their lowest points, which raises concerns about its financial health.
Broader Market Context: In comparison to the benchmark, Relaxo Footwear has underperformed significantly over the longer term, with a year-to-date return of -19.07% against the Sensex's +3.11%. While the stock has shown some positive movement recently, it has consistently lagged behind the benchmark over the past three years, generating -50.11% returns compared to the Sensex's +37.01%. Additionally, there has been a decline in institutional investor participation, which may indicate a lack of confidence in the stock's future performance. This context suggests that while the stock is currently rising, the underlying fundamentals and broader market trends present a mixed picture, highlighting the potential for volatility ahead.