Why is Imagica. Enter. falling/rising?

As of 24-Sep, Imagicaaworld Entertainment Ltd's stock price is currently at Rs 57.38, reflecting an increase of Rs 1.56 or 2.79%. The stock has shown a trend reversal by gaining after four consecutive days of decline, and it outperformed its sector by 2.07% today. Despite this positive movement, the stock remains close to its 52-week low, just 4.04% away from Rs 55.06. Over the past week, the stock has decreased by 0.54%, and it has significantly underperformed over the past year with a return of -31.85%, compared to the Sensex's decline of only -3.77%. The company's long-term growth prospects appear poor, with a reported decline in net sales of 19.5% and a substantial drop in profit before tax of 51.84%, which may contribute to investor caution.
Broader market context indicates that while the stock has shown a slight recovery today, its overall performance has been lackluster compared to the benchmark. The Sensex has gained 0.50% over the past month, while Imagicaaworld's stock has decreased by 0.36% in the same period. This underperformance is further highlighted by the fact that domestic mutual funds hold only a minimal stake in the company, suggesting a lack of confidence in its valuation and business prospects. The stock's liquidity remains adequate for trading, but the significant drop in delivery volume indicates falling investor participation, which could hinder any sustained upward momentum.