Why is Relaxo Footwear falling/rising?

As of 19-Sep, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at 470.15, reflecting a decrease of 27.1 or 5.45%. The stock has underperformed its sector today by 4.39% and has been on a downward trend for the last two days, accumulating a total loss of 5.89%. It reached an intraday low of Rs 463.2, indicating significant selling pressure. Over the past week, the stock has declined by 4.08%, and its year-to-date performance shows a substantial drop of 24.33%. The company's financial health is concerning, with negative results reported for the last five consecutive quarters, a low return on capital employed (ROCE) of 10.84%, and a significant decline in net sales. Additionally, institutional investor participation has decreased, which may further contribute to the stock's downward momentum.
In the broader market context, while the Sensex has gained 0.88% over the past week, Relaxo Footwears has lagged significantly, highlighting its consistent underperformance against the benchmark. The stock's returns have been negative across various time frames, including a staggering 43.24% decline over the past year, contrasting sharply with the Sensex's slight drop of 0.67% during the same period. This persistent underperformance, coupled with a high price-to-book value ratio and falling investor confidence, suggests that market sentiment remains bearish towards Relaxo Footwears, further exacerbating its stock price decline.