India, Aug. 11 -- A stock tripling in a matter of months typically elicits skepticism, and rightfully so. But this rally has numbers to back it up: profit growth is accelerating quarter after quarter, guidance has been revised upward twice in a year, and a capacity expansion is about to begin. That combination is worth exploring before deciding whether the move is still viable.

Shares of Cupid Limited were trading around Rs267, with a market capitalization of roughly Rs35,842 crore, within a 52-week range of Rs267 to Rs32 and a P/E of about 261. The stock has returned over 220% in the past four months.

Profit Growth Keeps Accelerating The headline numbers from the June quarter are hard to miss. Total income rose 142% year-on-year to Rs1...