Why is Arihant Academy falling/rising?

As of 12-Nov, Arihant Academy Ltd's stock price is rising, currently at Rs 519.85, reflecting an increase of Rs 22.35 or 4.49%. The stock is trading close to its 52-week high, just 1.14% away from Rs 525.8, and has outperformed its sector by 4.4% today. It is also trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Over the past week, the stock has risen by 3.99%, and in the last month, it has increased by 9.88%. The company has demonstrated strong financial health, with net sales growing at an annual rate of 30.30% and a low debt-to-equity ratio, which supports its positive price movement. However, there has been a decline in investor participation, with delivery volume falling by 16.67% against the 5-day average.
In the broader market context, Arihant Academy's performance has significantly outpaced the benchmark, with a one-year return of 147.43% compared to the BSE500's 6.33%. This strong performance indicates that investor sentiment remains positive despite the recent drop in delivery volumes. The company's impressive quarterly results, including a 28.4% growth in net sales and record profits, further bolster its attractiveness to investors. However, the stock's high valuation, indicated by a Price to Book Value of 12.6 and a PEG ratio of 0.3, suggests that it may be considered expensive, which could pose risks if market conditions change.