Why is Arihant Capital falling/rising?

As of 22-Jul, Arihant Capital Markets Ltd is experiencing a significant rise in its stock price, currently at 102.40, reflecting an increase of 15.1 or 17.3%. The stock has outperformed its sector by 17.51% today and has shown a consecutive gain over the last two days, with a total return of 18.89% during this period. It reached an intraday high of Rs 104.57, indicating strong upward momentum. Despite high volatility today, with an intraday fluctuation of 5.75%, the stock is trading above all key moving averages, suggesting a bullish trend. However, there is a noted decline in investor participation, with delivery volume falling by 43.13% compared to the five-day average. The stock has generated a robust return of 30.28% over the past year, significantly outperforming the broader market, which has seen much lower returns.
In the broader market context, Arihant Capital's short-term performance is notably strong, with a one-week return of 17.43% compared to a slight decline of 0.47% in the Sensex. This indicates that the stock is not only rising but doing so in a market environment that is relatively weak. The company's strong long-term fundamentals, including a healthy average return on equity of 17.75% and impressive growth rates in net sales and operating profit, contribute to its attractive valuation and market-beating performance. However, it is important to note that while the stock has performed well, its profits have declined by 35.5% over the past year, which could pose a risk to its continued upward trajectory.