Why is Relaxo Footwear falling/rising?

As of 26-Sep, Relaxo Footwears Ltd is experiencing a decline in its stock price, currently at Rs 431.95, which reflects a decrease of Rs 3.55 or 0.82%. The stock has been on a downward trend, having fallen consecutively for the last seven days, resulting in a total return of -13.53% during this period. Additionally, the stock is trading below its moving averages across various timeframes, indicating weak performance. The company has reported negative results for the last five consecutive quarters, with a significant drop in operating profit and net sales, contributing to a poor long-term growth outlook. Furthermore, institutional investor participation has decreased, suggesting a lack of confidence in the stock.
In the broader market context, Relaxo Footwear has underperformed against the benchmark, with a 1-week return of -8.13% compared to the Sensex's -2.66%. Over the past year, the stock has generated a return of -46.57%, significantly lagging behind the benchmark's -6.30% return. This consistent underperformance over multiple timeframes, coupled with falling investor participation and a high valuation relative to peers, underscores the challenges facing the company and its stock price.