Why is Arihant Academy falling/rising?

As of 22-Aug, Arihant Academy Ltd's stock price is rising, currently at 375.00, reflecting an increase of 5.25 (1.42%). The stock has recently hit a new 52-week and all-time high of Rs. 380, indicating strong upward momentum. It has outperformed its sector by 0.98% today and is trading above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Over the past week, the stock has gained 5.04%, and it has shown impressive returns of 34.41% over the past month and 108.33% over the past year, significantly outperforming the broader market, which has seen negative returns. The company also boasts a low debt-to-equity ratio and has experienced robust growth in net sales, which has contributed positively to investor sentiment.
In the broader market context, while the Sensex has only gained 0.97% over the past week and has generated negative returns of -0.76% over the past month, Arihant Academy's strong performance stands out. The stock's year-to-date return of 49.52% also surpasses the Sensex's 5.18% gain, highlighting its resilience and attractiveness to investors despite the overall market conditions. However, it is worth noting that the stock has a very expensive valuation with a Price to Book Value of 9.9, which could pose risks if market conditions change or if the company's growth does not continue at the same pace.