Why is Arihant Academy falling/rising?

As of 03-Sep, Arihant Academy Ltd's stock price is currently at Rs 381.30, reflecting a decline of Rs 6.2 or 1.6%. The stock has underperformed its sector today by 2.11%, and it is 2.28% away from its 52-week high of Rs 390. Over the past week, the stock has decreased by 0.75%, while it has shown a strong performance over the past month with a 14.50% increase. Despite this recent dip, the company has demonstrated high management efficiency with a return on equity (ROE) of 19.01% and a low debt-to-equity ratio, which supports its healthy long-term growth, evidenced by a 30.30% annual growth rate in net sales. However, the stock's valuation appears expensive with a price-to-book value of 9.3, and while it has generated impressive returns of 113.02% over the past year, its profits have increased by 187%, indicating a potential risk in valuation.
In the broader market context, the stock's recent performance contrasts with the benchmark, as the Sensex has shown a slight increase of 0.01% over the past week. The stock's liquidity remains adequate, but there has been a notable decline in investor participation, with delivery volume falling by 28.57% against the 5-day average. This decline in participation could be contributing to the stock's recent price drop, despite its strong historical performance and growth metrics. Overall, while Arihant Academy Ltd has shown robust growth and market-beating performance, the current price movement reflects a combination of short-term underperformance relative to the sector and concerns regarding its valuation.