Why is Imagica. Enter. falling/rising?

As of 26-Sep, Imagicaaworld Entertainment Ltd is experiencing a decline in its stock price, currently at Rs. 54.58, which reflects a decrease of Rs. 2.31 or 4.06%. The stock has hit a new 52-week low today at Rs. 54.2 and has underperformed its sector by 1.57%. Over the past week, the stock has fallen by 3.52%, and its year-to-date performance shows a significant decline of 22.39%. The company has reported poor financial results, including a 19.5% drop in net sales and a 34.69% decrease in stock returns over the past year, which has contributed to a negative sentiment among investors. Additionally, the stock is trading below all key moving averages, indicating a bearish trend, and there has been a notable decrease in investor participation, with delivery volume falling by 21.73% compared to the five-day average.
In the broader market context, the Sensex has also experienced a decline, but at a lesser rate of 2.66% over the past week. This indicates that while the market is facing challenges, Imagicaaworld's performance is significantly worse than the benchmark. The company's weak long-term growth prospects, as evidenced by a low return on equity and a high price-to-book value ratio, further exacerbate its struggles. The limited interest from domestic mutual funds, holding only 0.31% of the company, suggests a lack of confidence in its valuation and business model, reinforcing the stock's downward trajectory. Overall, the combination of poor financial performance, negative investor sentiment, and underperformance relative to the market contributes to the ongoing decline in Imagicaaworld's stock price.