Why is Relaxo Footwear falling/rising?

As of 12-Sep, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at 490.15, which reflects a decrease of 3.95 or 0.8%. The stock has underperformed its sector today by 1.16% and has been on a consecutive downward trend for the last three days, accumulating a total drop of 0.9% during this period. Over the past week, the stock has decreased by 1.42%, while its performance over the last month shows a positive return of 13.04%. However, the company has faced significant challenges, including negative results for the last five consecutive quarters, a low return on capital employed (ROCE) of 10.84%, and a substantial decline in net sales. Additionally, the stock's valuation appears expensive compared to its peers, with a price-to-book value of 5.8, further contributing to investor concerns.
In the broader market context, the stock's recent performance contrasts sharply with the benchmark, as the Sensex has gained 1.48% over the past week and 2.08% over the last month. This underperformance is compounded by a decrease in institutional investor participation, which has fallen by 0.8% in the previous quarter, indicating a lack of confidence among more knowledgeable investors. Furthermore, the stock has consistently underperformed against the benchmark over the last three years, with a staggering decline of 41.56% in the past year, while the broader market has shown resilience with a modest gain of 4.82%. These factors collectively highlight the challenges faced by Relaxo Footwears Ltd, leading to its current stock price decline.