Why is Relaxo Footwear falling/rising?

As of 04-Sep, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at Rs 498.65, down by 4.15 (-0.83%). Despite opening the day with a gain of 3.43% and reaching an intraday high of Rs 531.45, the stock has underperformed its sector by 2.68%. Over the past week, the stock has shown a positive return of 11.47%, but it has significantly underperformed over the longer term, with a year-to-date decline of 19.74% and a one-year return of -38.74%. The company's financial health is concerning, as it has reported negative results for the last five consecutive quarters, with a low return on capital employed (ROCE) and declining net sales. Additionally, institutional investor participation has decreased, indicating a lack of confidence in the stock's future performance.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as it has consistently underperformed against the BSE500 over the last three years. While the Sensex has shown a slight gain of 0.80% in the past week, Relaxo's performance highlights its struggles, particularly with a long-term growth rate of -2.14% in operating profit over the last five years. The stock's valuation remains high compared to its peers, further complicating its appeal to investors. Overall, the combination of poor financial results, declining institutional interest, and significant long-term underperformance contributes to the current downward movement in Relaxo Footwears Ltd's stock price.