Why is Anand Rathi Wea. falling/rising?

As of 15-Jul, Anand Rathi Wealth Ltd is experiencing a decline in its stock price, currently at 2,454.60, which reflects a decrease of 56.7 points or 2.26%. Today's price summary indicates that the stock has underperformed its sector by 3.07% and has fallen after four consecutive days of gains, touching an intraday low of Rs 2434.9. Despite this short-term decline, the stock has shown strong performance over the past week, with an increase of 18.16%, and a remarkable 669.29% rise over the last three years. The company has demonstrated strong long-term fundamentals, with a high return on equity and consistent positive results over the last 14 quarters, which supports its valuation despite the current price drop.
Broader market context shows that while Anand Rathi Wealth Ltd has outperformed the Sensex in various time frames, including a 22.17% increase over the past month compared to the Sensex's 1.79%, the recent price movement indicates some volatility. The stock's current decline may be attributed to its high valuation metrics, with a price-to-book value of 30.2, which is considered expensive compared to its peers. This premium valuation, coupled with a PEG ratio of 2, suggests that while the stock has delivered solid returns, the market may be recalibrating expectations in light of its recent performance and valuation concerns.