Why is Anand Rathi Wea. falling/rising?

As of 16-Sep, Anand Rathi Wealth Ltd is experiencing a slight increase in its stock price, currently at 3,046.60, reflecting a change of 4.8 (0.16%) upwards. The stock has recently hit a new 52-week high of Rs. 3074.95 and has shown strong performance, gaining 4.08% over the past week and 12.56% over the last month. The stock has been on a consecutive gain streak for the last five days, and it is trading above all key moving averages, indicating positive momentum. Additionally, the company has demonstrated strong long-term fundamentals, with a high average Return on Equity (ROE) of 38.37% and consistent growth in operating profit. However, there are concerns regarding valuation, as the stock is considered very expensive with a Price to Book Value of 37.6, and there has been a reduction in promoter confidence with a 4.57% decrease in their stake.
Broader market context shows that Anand Rathi Wealth Ltd has outperformed the benchmark Sensex significantly, with a year-to-date return of 54.26% compared to the Sensex's 5.43%. This strong performance is further highlighted by the stock's impressive returns over the past three years, where it has gained 818.41%, while the Sensex has only increased by 40.01%. The rising investor participation, evidenced by a 73.9% increase in delivery volume, also supports the stock's upward movement. Despite these positive indicators, the decline in promoter stake raises questions about future confidence in the company, which could impact investor sentiment moving forward.