Condom Maker Draws Rush of Buy Calls on 60% Jump Since India IPO

Mankind Pharma Ltd.has garnered the most analyst coverage of any new Indian stock in at least 12 years, as investors rush to buy the drug and condom maker’s shares following a blockbuster initial public offering in May.

The company’s stock has surged more than 60% since listing, driving its market value to about $8.5 billion. It has already drawn nine buy ratings and one hold recommendation. That’s the most coverage in a similar span of time for an Indian stock that raised more than $500 million since November 2010, according to data compiled by Bloomberg.

“It is a domestic ...