Why is Imagica. Enter. falling/rising?

As of 23-Sep, Imagicaaworld Entertainment Ltd is experiencing a decline in its stock price, currently at Rs 55.82, which reflects a decrease of Rs 0.27 or 0.48%. The stock has been underperforming recently, having fallen consecutively for the last four days, resulting in a total decline of 3.24%. It is also trading close to its 52-week low, just 1.36% above Rs 55.06. In terms of performance against benchmarks, the stock has shown a negative return of 20.63% year-to-date and a significant drop of 34.31% over the past year, indicating poor long-term growth. The company's financials reveal a concerning trend, with a 19.5% decline in net sales and a substantial drop in profits, which has contributed to its classification as a strong sell.
In the broader market context, the stock's recent performance contrasts sharply with the Sensex, which has gained 5.07% year-to-date. While the Sensex has shown resilience, Imagicaaworld's stock has lagged behind, reflecting a lack of investor confidence, as evidenced by a 51.5% drop in delivery volume compared to the five-day average. The low participation from domestic mutual funds, holding only 0.31% of the company, further suggests that institutional investors are wary of the stock's valuation and growth prospects. Overall, the combination of poor financial results, declining investor interest, and significant underperformance relative to the market has led to the stock's downward trajectory.