Why is Arihant Academy falling/rising?

As of 10-Oct, Arihant Academy Ltd is experiencing a decline in its stock price, currently at 473.10, which reflects a decrease of 21.9 points or 4.42%. Despite this recent drop, the stock has shown strong performance over the past week, rising by 11.29%, and it has significantly outperformed the benchmark Sensex, which increased by only 1.57%. However, today's trading performance indicates that the stock underperformed its sector by 5%, and there has been a notable decrease in investor participation, with delivery volume falling by 87.7% compared to the 5-day average. The stock is trading above its moving averages across various time frames, suggesting a generally positive trend, but the recent price drop may indicate profit-taking or market corrections after substantial gains.
In the broader market context, while Arihant Academy has delivered impressive returns of 146.41% over the past year, the overall market, represented by the BSE500, has faced negative returns of -1.51%. This stark contrast highlights the stock's strong performance relative to the market. However, the stock's high valuation, indicated by a Price to Book Value of 11.4 and a PEG ratio of 0.3, raises concerns about its sustainability. Although the company boasts a high return on equity and low debt levels, the recent price decline may reflect investor caution regarding its valuation amidst a backdrop of broader market challenges.