Why is Arihant Academy falling/rising?

As of 19-Aug, Arihant Academy Ltd is experiencing a slight decline in its stock price, currently at Rs 359.90, reflecting a decrease of 0.1 or 0.03%. The stock has underperformed its sector today by 0.72% and is trading 4.06% away from its 52-week high of Rs 374.5. Despite this short-term dip, the stock has shown strong performance over the past month, with a return of 26.30%, and an impressive 110.34% increase over the past year, significantly outpacing the broader market which has only returned 1.66% in the same period. The company benefits from a low debt-to-equity ratio and has demonstrated healthy long-term growth, with net sales increasing at an annual rate of 30.30%. However, the stock's valuation appears expensive with a Price to Book Value of 9.5, which may be contributing to the recent price movement.
In the broader market context, while Arihant Academy's recent performance has been strong, it has not kept pace with the benchmark index, the Sensex, which has gained 2.01% over the past week. The stock's recent decline could be attributed to falling investor participation, as indicated by a significant drop in delivery volume, which has decreased by 92.19% compared to the 5-day average. This lack of trading activity may signal reduced investor confidence, despite the company's solid financial performance and growth prospects. Overall, while the stock has shown remarkable returns over the long term, the current market dynamics and valuation concerns may be influencing its recent price decline.