Why is Arihant Academy falling/rising?

As of 05-Sep, Arihant Academy Ltd's stock price is currently at Rs. 398.45, reflecting an increase of Rs. 18.45 or 4.86%. The stock has recently hit a new 52-week and all-time high of Rs. 419, indicating strong upward momentum. It has outperformed its sector by 4.85% today and is trading above all key moving averages, which suggests a positive trend. Over the past week, the stock has gained 6.25%, and over the last month, it has risen by 15.46%. Additionally, the company has demonstrated high management efficiency with a return on equity (ROE) of 19.01% and a low debt-to-equity ratio, contributing to its healthy long-term growth with net sales increasing at an annual rate of 30.30%. However, there has been a decline in investor participation, with delivery volume falling by 21.05% against the 5-day average.
In the broader market context, while the Sensex has only increased by 1.29% over the past week, Arihant Academy's performance stands out significantly, showcasing its resilience and market-beating returns. The stock has generated an impressive 115.38% return over the past year, contrasting sharply with the negative returns of -1.61% from the benchmark. Despite its high valuation with a price-to-book ratio of 9.6, the company's profits have surged by 187%, indicating strong underlying growth. This combination of strong performance metrics and market outperformance has likely contributed to the stock's rising price.