Since last 6 months, there were news in market that they may sell a controlling stake so there was never a confusion on that. Also, the stock performance had more to do with their good results of last quarters then any rumors about stake sell by parent. Also, see the commentary of last two quarters by management where they clearly outlined the growth path for next 2-3 years along with the capex. Along with that, the stock was trading really cheap with a great dividend yield that also helped.
Agree with what @ranvir mentioned about dividends and CDMO plans. In fact this is exactly what Sajal Kapoor mentioned in one of the twitter spaces around April.
Q2 results will be announced in a month and it will be interesting to see what is management’s road map going forward. GLS is doing good as an independent entity. I am only worried about Nirma’s plan for the company going forward. So far there is no presentation/concall by Nirma, only a statement. I would love to hear more from the new management.
Disc: Invested
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