Companies that emerged from India’s insolvency process and kept their stock exchange listings have delivered sharply divergent returns over the past year, with three of the four most-traded names losing between a third and three-fifths of their value.
Orchid Pharma, acquired by Dhanuka Laboratories through the corporate insolvency resolution process, is the outlier. The stock was at ₹960.40 on September 18, up 21.44% over 12 months and 77.83% over six months, against a 52-week range of ₹471.30 to ₹1,130.
The rest have struggled.
Alok Industries, the textile maker acquired by Reliance Industries with JM Financial Asset Reconstruction Company under a plan the Ahmedabad bench of the National Company Law Tribunal…