Why is Arihant Academy falling/rising?

As of 31-Oct, Arihant Academy Ltd's stock price is currently at 490.00, reflecting an increase of 3.9, or 0.8%. The stock has shown strong performance, outperforming the sector by 0.33% today and trading above its moving averages across various time frames. Over the past week, the stock has gained 0.74%, while its one-month return stands at an impressive 15.01%. 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 a healthy long-term growth outlook with net sales increasing at an annual rate of 30.30%. Additionally, positive quarterly results have bolstered investor confidence, with a significant growth in profit after tax and net sales.
Broader market context indicates that while the Sensex has declined by 0.28% over the past week, Arihant Academy's stock has managed to rise, showcasing its resilience and market-beating performance with a 131.13% return over the last year compared to the benchmark's 4.13%. This strong performance is further supported by a notable increase in investor participation, as evidenced by a 284.62% rise in delivery volume. However, it is important to note that the stock is considered very expensive with a high price-to-book value, which could pose risks if valuations adjust. Overall, the combination of strong fundamentals and positive market sentiment has contributed to the stock's upward movement.