Why is Imagica. Enter. falling/rising?

As of 19-Sep, Imagicaaworld Entertainment Ltd is experiencing a decline in its stock price, currently at Rs 56.57, which reflects a decrease of Rs 0.72 or 1.26%. The stock has underperformed its sector by 0.82% today and has been on a consecutive downward trend for the last two days, resulting in a total decline of 1.94%. Additionally, the stock is 2.67% away from its 52-week low and has shown a negative return of 3.45% over the past month, while its year-to-date performance is down by 19.56%. The company's financials indicate a concerning trend, with a significant drop in net sales by 19.5% and a decline in profits, leading to a perception of poor long-term growth despite a high operating profit growth rate of 16.61% over the last five years.
Broader market context shows that while the Sensex has gained 0.88% over the past week, Imagicaaworld's stock has increased by only 1.14%, indicating a weaker performance relative to the benchmark. Over the past year, the stock has underperformed significantly, with a return of -30.19% compared to the market's slight decline of -0.67%. The low participation from domestic mutual funds, holding only 0.31% of the company, suggests a lack of confidence in the stock's valuation, which is considered expensive at a price-to-book ratio of 2.6. This combination of poor financial results, declining investor interest, and underperformance against the broader market contributes to the stock's current downward trajectory.