Why is Relaxo Footwear falling/rising?

As of 16-Sep, Relaxo Footwears Ltd is experiencing a price increase, currently at Rs 489.00, reflecting a rise of Rs 8.25 or 1.72%. Today, the stock has outperformed its sector by 1.49% and has shown a trend reversal after four consecutive days of decline, reaching an intraday high of Rs 491.45. However, despite this short-term gain, the stock has underperformed against the benchmark over various periods, including a 1-week decline of 1.13% compared to the Sensex's gain of 1.58%, and a significant year-to-date drop of 21.29% against the Sensex's 5.43% increase. The company has a low debt-to-equity ratio, but it has reported negative results for the last five consecutive quarters, with declining operating profits and a very expensive valuation relative to its peers.
In the broader market context, while Relaxo Footwears has shown a slight recovery today, its long-term performance remains concerning, particularly with a 40.96% decline over the past year and a consistent underperformance against the benchmark over the last three years. The falling participation from institutional investors, who have reduced their stake by 0.8%, further indicates a lack of confidence in the stock's future prospects. This combination of short-term gains amidst a backdrop of poor long-term growth and declining investor interest suggests that while the stock may be rising today, the overall sentiment remains cautious.