Indian equities have had a turbulent 2025 so far. Corporate earnings have been muted amid a slowdown in demand, while renewed trade tensions and tariff-related concerns have kept investor sentiment in check. Beneath the surface, however, a handful of stocks have stood out—delivering powerful rallies on the back of strong earnings, ambitious expansion strategies, and improving fundamentals.
What makes these stocks especially interesting is that, despite gaining over 30% year-to-date, they’re still trading about 20% below their 52-week highs—leaving potential room for further upside.
Here are three that deserve a closer look.
- Narayana Hrudayalaya
The stock is up 40% in 2025, yet remains 28% shy of its ₹2,372 peak. The hospital chain’s rally has been fueled by capacity expansion, diversification into insurance services, and a sharper focus on operational efficiency. The company plans to add 1,535 beds by FY29, backed by a ₹750 crore capex plan—₹300 crore for upgrading existing facilities and ₹450 crore for new projects.
Its insurance arm, with ₹1,000 crore already invested, aims to improve healthcare access for lower-income groups, while 50 planned primary care clinics are expected to enhance patient reach. Over the past five years, revenue has grown at a steady 12% CAGR, while net profit has surged at 44% CAGR, with operating margins expanding from 10.3% in 2019 to 23% in 2025.
A recent 8.4% share price dip—triggered by a minor quarterly profit decline—has brought valuations below historical averages, potentially creating an entry point. Interestingly, FIIs have reversed a year-long selling streak, raising their stake from 9.66% to 10.46% in the June quarter.
- Manorama Industries
Manorama, a leader in specialty fats and butters for chocolates, confectionery, and cosmetics, has risen 38% in 2025, yet remains 18% off its high. The company has delivered a 114% return over the past year, far outpacing the Sensex. Financial growth has been robust—quarterly revenue climbed from ₹133 crore in June 2024 to ₹290 crore in June 2025, with net profit expanding from ₹14 crore to ₹51 crore. Operating margins improved to 27%, benefiting from a better product mix and cost efficiency.
With a 40,000-ton annual capacity and utilisation expected to hit 75–80% by FY26, Manorama is targeting ₹1,050 crore revenue next year. International expansion, especially in Brazil, positions it well to tap rising demand for cocoa butter equivalents and stearin products. Strong return ratios (RoE at 28%, RoCE at 23%) and valuations in line with historical averages suggest it may still have room to run.
- Blue Jet Healthcare
Blue Jet Healthcare, India’s first manufacturer of saccharin and its salts, has gained 36% this year, yet trades 23.5% below its 52-week high. After a muted FY20–FY24, the company rebounded sharply in FY25, with revenue up 45% to ₹1,030 crore and net profit up 86% to ₹305 crore. It boasts an average RoE of 27% and minimal debt.
Recent weakness—down over 12% in a month—came after a sequential drop in profits, but annual growth remains strong. The company is investing in 1,000 kiloliters of new capacity over the next 2–3 years, with a focus on APIs like bempedoic acid and high-value contrast media intermediates. R&D investments of ₹40 crore are aimed at 20 high-potential products, with six already in late-stage development or commercialisation. Analysts remain bullish, with target prices suggesting further upside.
Final Take
While the broader market has been cautious, Narayana Hrudayalaya, Manorama Industries, and Blue Jet Healthcare stand out for their strong fundamentals, expansion plans, and valuations that leave room for potential gains. That said, past performance isn’t a guarantee, and any investment decision should be guided by personal risk appetite, research, and patience.
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Disclaimer
This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.