Why is Arihant Academy falling/rising?

As of 21-Aug, Arihant Academy Ltd's stock price is rising, currently at Rs 369.75, reflecting an increase of Rs 5.8 or 1.59%. The stock has shown strong performance, trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. It is also close to its 52-week high, just 1.77% away from Rs 374.5. The stock has outperformed its sector by 1.69% today, and there has been a significant increase in investor participation, with delivery volume rising by 120% compared to the 5-day average. Over the past month, Arihant Academy has delivered a remarkable return of 32.05%, while its year-to-date return stands at 47.43%, significantly outperforming the benchmark Sensex, which has only gained 6.09% in the same period.
In the broader market context, Arihant Academy's strong performance contrasts sharply with the negative returns of the BSE500, which has declined by 1.56% over the past year. This indicates that the company is not only performing well relative to its sector but also demonstrating resilience in a challenging market environment. The company's low debt-to-equity ratio and impressive growth in net sales, which have increased at an annual rate of 30.30%, further bolster investor confidence. However, it is worth noting that the stock has a high valuation with a Price to Book Value of 9.7, which may pose a risk if the market sentiment shifts. Despite this, the stock's ability to generate substantial returns, including a remarkable 112.50% over the past year, underscores its strong market position.