India, Sept. 8 -- Two of the month's standout debutants continue to reward investors well past listing day. Milky Mist Dairy Food, which listed on August 18 at Rs. 165 against its Rs. 140 issue price, an 18% pop has kept climbing steadily, with the stock now trading at Rs. 275.70, an increase of 97% meaningfully above its debut level on the back of strong earnings growth and its positioning in the value-added dairy space.

ESDS Software Solution has been the far bigger story, though. The cloud infrastructure and data-centre player listed on September 4 at Rs. 757, a 76% premium over its Rs. 429 issue price, and simply hasn't stopped running since hitting consecutive 20% upper circuits in the days that followed to trade around Rs. 1,090-1,...