Why is Imagica. Enter. falling/rising?

As of 18-Sep, Imagicaaworld Entertainment Ltd is experiencing a decline in its stock price, currently at Rs 57.29, which reflects a decrease of 0.4 or 0.69%. The stock has recently underperformed its sector by 0.35% and has fallen after two consecutive days of gains. It is also close to its 52-week low, being only 3.89% away from Rs 55.06. Over the past week, the stock has shown a positive return of 3.37%, but it has underperformed over the last month and year-to-date, with returns of -1.05% and -18.54%, respectively. The company's financial performance has raised concerns, with a significant drop in net sales of 19.5% and a year-over-year profit decline of 33.5%. Additionally, despite a relatively high operating profit growth rate of 16.61% over the past five years, the overall sentiment remains negative due to the stock's poor long-term growth prospects and low domestic mutual fund interest.
Broader market context indicates that while the BSE500 index has generated negative returns of -1.96% over the last year, Imagicaaworld's stock has significantly underperformed with a return of -30.27%. This stark contrast highlights the company's struggles relative to the broader market. The stock is trading at a discount compared to its peers, but its valuation remains high with a price-to-book ratio of 2.6, suggesting that investors may be cautious about its future performance. The rising investor participation, indicated by an increase in delivery volume, may not be sufficient to counterbalance the negative sentiment stemming from the company's financial results and overall market performance.