Why is Arihant Academy falling/rising?

As of 02-Sep, Arihant Academy Ltd's stock price is currently flat at Rs 387.50, with no change in percentage terms (0.00%). The stock is trading close to its 52-week high, just 0.65% away from Rs 390. In terms of performance, it has outperformed its sector by 0.34% today and is trading above all its moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. Over the past week, the stock has increased by 0.86%, and it has shown impressive returns of 16.37% over the past month and 54.51% year-to-date, significantly outperforming the Sensex, which has seen a decline of 0.54% in the same week and a modest gain of 3.95% year-to-date. However, there has been a decline in investor participation, with delivery volume dropping by 25% compared to the 5-day average.
Broader market context indicates that while the stock has been performing well, the overall market has faced challenges, as evidenced by the negative returns of -4.82% from the BSE500 over the past year. Despite these broader market conditions, Arihant Academy has managed to achieve a remarkable 109.46% return in the same period, highlighting its strong market-beating performance. The company's high management efficiency, reflected in a return on equity (ROE) of 19.01%, and a low debt-to-equity ratio contribute positively to its valuation. However, the stock is considered expensive with a price-to-book value of 9.4, and while profits have surged by 187% over the past year, the PEG ratio of 0.3 suggests that the stock may be overvalued relative to its growth.