Relaxo Footwears extends slide on weak Q2 results; stock hits 18-month low

Shares of Relaxo Footwears slipped 3 per cent to hit an 18-month low of Rs 882.45 on the BSE in Friday’s intra-day trade. The stock has fallen 10 per cent since November 3 after the company reported a weak set of numbers for the quarter ended September (Q2FY23). The scrip of the footwear company was trading at its lowest level since May 2021.

Thus far in the calendar year 2022, Relaxo Footwears has underperformed the market by declining 33 per cent as compared to a 4 per cent rise in the S&P BSE Sensex.

In Q2FY23, the company's