Whoever said the stocks rally since March lows was reckless should be eating crow now.

Many of the stocks that saw a stellar run in the rally have also turned out to be the ones delivering solid top line and bottom line growth through these hard times, and showing strong earnings visibility for the near future.

The best part is, investors sit easy in these stocks, as the rest of the market gets busy fixing stop losses and booking partial profits in anticipation of an imminent correction.

Shares of 23 companies with healthy earnings outlook (at least for the short term) rallied up to 550 per cent from March lows. And June quarter earnings validated those bets, as these companies reported more than 20 per cent rise in both sales and profit in an otherwise washout quarter, data compiled by corporate database AceEquity suggests.

The chart-topper was Aarti Drugs, whose shares rallied a whopping 548 per cent since March lows. For June quarter, the company reported a 280 per cent YoY surge in profit after tax (PAT) at Rs 85.45 crore on a 34.34 per cent rise in net sales at Rs 544.67 crore. While disruptions in China helped, Anand Rathi says the company is a prime candidate to benefit from the government’s push for indigenous API manufacturing.

Shares of LT Foods soared 288 per cent from March lows. The owner of Basmati rice brand Daawat delivered 82.24 per cent rise in net profit at Rs 83.58 crore on a 24 per cent rise in net sales at Rs 1,215 crore. Analysts like the business on account of strong product line and consistent market share gains, which they believe may help the company outperform peers.

Sugar producer Dalmia Bharat Sugar & Industries more than doubled June quarter profit at Rs 125.86 crore on a 51 per cent rise in net sales at Rs 881.52 crore. This stock has risen 247 per cent from March lows. ICICI Securities said optimum byproduct capacities helped Dalmia Bharat Sugar bring stability to earnings and cash flows. This brokerage likes the company as likely additional sugar exports and higher sugarcane diversion towards heavy ethanol is expected to help it cut sugar inventory by 50,000 tonnes over next two years.

Laurus Labs’ June quarter bottom line was higher than the average annual profit it had reported over FY17-20. The June quarter numbers redefined earnings assessment for the company over near to medium term, Motilal Oswal said.

Brokerages now look at Laurus Labs as a solid play on the formulation business, and have revised earnings estimates sharply, suggesting a 20-30 per cent potential upside. This stock has rallied 245 per cent from March lows.