New Delhi, June 9 -- In just 15 months, a relatively lesser-known pharma stock surged 10X, rising from a low of Rs.68 (in March 2020) to an all-time high of Rs.724 in August 2021. This surge was led by a fourfold jump in profits, from Rs.255 crore in 2019-20 to Rs.984 crore in 2020-21.

Retail investors took notice. During the period, the number of public shareholders grew fivefold to 236,000. At the same time, domestic institutions sharply cut their stake, from 31.6% to just 3.6%.

But like many fast rallies, this one didn't last long. As earnings momentum slowed, the stock corrected sharply, falling 60% to Rs.293 by March 2023. Its profit fell to Rs.162 crore in 2023-24, but early signs of a recovery have started to emerge.

Over the pa...