Why is Arihant Capital falling/rising?

As of 30-Jul, Arihant Capital Markets Ltd is experiencing a price increase, currently at Rs 101.40, reflecting a rise of 1.4% or Rs 1.4. The stock has shown a trend reversal, gaining after four consecutive days of decline, and today it outperformed its sector by 1.3%. The stock reached an intraday high of Rs 103.9, which is a 3.9% increase. Over the past week, the stock has declined by 3.04%, but it has performed well over the past month with a return of 20.80%. Despite a strong long-term fundamental strength indicated by an average Return on Equity (ROE) of 17.75% and healthy growth in net sales and operating profit, the stock has faced challenges with a significant drop in profits over the past year and negative results for the last three quarters.
Broader market context shows that while the stock has generated a return of 27.93% over the past year, the benchmark BSE500 has seen negative returns of 2.34% in the same period, indicating that Arihant Capital has outperformed the broader market. However, the stock's recent performance is tempered by falling investor participation, with delivery volume dropping significantly. Additionally, the lack of domestic mutual fund investment may signal caution regarding the stock's valuation or business stability, despite its attractive valuation compared to peers. Overall, while the stock is currently rising, it faces underlying challenges that could impact its future performance.