New Delhi, March 24 -- Bajaj Healthcare's stock has been on a tear, rising over 14% in the past month and surging more than 130% in a year. Investors are piling in, betting on the company's expanding global footprint, new drug approvals, and a turnaround in financial performance.

The optimism stems from a string of positive developments.

The company recently received regulatory approval to conduct Phase III clinical trials for Cenobamate, an advanced anti-seizure medication. It has also secured key international contracts, expanded its presence in the alkaloid manufacturing business, and is making aggressive moves in the magnesium segment. At the same time, it is taking steps to clean up its financials, selling assets to reduce debt and...