New Delhi, Oct. 14 -- Sudeep Pharma shares have surged nearly 75% from their initial public offering (IPO) price of Rs.593 in less than a year, reflecting strong investor interest in the pharmaceutical company and its growth prospects. The stock made a robust debut on 28 November, listing at Rs.730 per share on the NSE, a premium of 23.10% over its issue price. On the BSE, it debuted at Rs.733.95, marking a 23.77% premium.

However, ICICI Securities believes the stock's valuation has run ahead of its fundamentals, despite the company's promising position in the battery materials segment. The brokerage has maintained its Hold rating on Sudeep Pharma while raising its target price to Rs.1,000 from Rs.700, based on its 13 October assessment....