Why is Arihant Academy falling/rising?

As of 25-Aug, Arihant Academy Ltd is experiencing a price increase, currently at Rs. 380.00, which reflects a rise of 5.0 or 1.33%. The stock has reached a new 52-week and all-time high today. Despite underperforming its sector by 0.25%, it is trading above all its moving averages, indicating a strong upward trend. Over the past week, the stock has gained 5.56%, and it has shown remarkable performance over the past month and year, with returns of 35.76% and 114.51%, respectively. The company has a low debt-to-equity ratio and has reported significant growth in net sales and profits, which supports its positive price movement. However, there is a noted decline in investor participation, with delivery volume dropping significantly.
In the broader market context, while the Sensex has only increased by 0.36% over the past week, Arihant Academy's performance has significantly outpaced this benchmark, showcasing its strength in a challenging market environment. The stock's ability to generate substantial returns despite a negative trend in the broader market, where the BSE500 has seen a decline of 2.11% over the past year, highlights its resilience. However, the stock's high valuation, indicated by a price-to-book ratio of 10 and a PEG ratio of 0.3, suggests that it may be considered expensive relative to its earnings growth, which could pose risks for future price stability.