Investors can’t get enough of India Globalization Capital Inc. (IGC).

Shares in the Bethesda, Maryland-based company, which specializes in infrastructure commodities and the development and commercialization of cannabis-based therapies to treat Alzheimer’s, pain, nausea, eating disorders, several end points of Parkinson’s and epilepsy in humans, dogs, and cats, have been on a tear lately, surging 39.84% on Monday and a further 35.26% ahead of Tuesday’s trading session.

IGC’s strong start to the week came despite the company issuing no fresh news updates. That suggests one thing: that investors continue to show their appreciation for IGC’s recent entrance into the cannabis-infused energy drink market. (See also: 5 Most Popular Ways to Consume Cannabis)

In a press release issued last week, IGC announced that it had entered into a distribution and partnership agreement for several products including a sugar free, energy drink called "Nitro G." Since that news broke on September 25, the shares have risen almost 300%.

“According to a Grand View Research forecast, the global energy drinks market is projected to be almost $85 billion by the year 2025, with non-alcoholic beverage sales expected to account for a significant portion of the market,” Ram Mukunda, IGC’s CEO, said in the release. “This represents a unique opportunity for the development and commercialization of a CBD-infused, sugar free energy beverage.”

Judging by the subsequent reaction, investors agree that the company’s CBD, or cannabidiol, a non-psychoactive compound in marijuana that's believed to have therapeutic benefits, drinks venture could be a game changer. That the beverage is still in the development phase, does not appear to have bothered them one bit.

Cannabis investor Jason Spatafora did not seem convinced, recommending Pyxus International Inc. (PYX) instead.

The pump on $igc is in hard they have no $$$ CEO and his wife were selling hard in August... real company for CBD is $pyx just saying https://t.co/IGGZORlusA
— Jason Spatafora (@WolfOfWeedST) October 1, 2018

CBD-Infused Drinks Potential Alerting Major Consumer Brands

Research analysts have played a key role in building up excitement about cannabis-infused drinks. In a recently published note, reported on by Business Insider, Canaccord Genuity predicted that marijuana beverages could become a $600 million market in the U.S. in the next four years.

Canaccord's Bobby Burleson and Jonathan DeCourcey claimed that the drinks could be poised to outpace general demand for marijuana products by over two times, capturing 20% of the market for cannabis edibles by 2022. Those prospects, they pointed out, are alerting major drink manufacturers. (See also: 5 Marijuana Stock Picks: Cowen.)

“Interest has spiked from the beer industry on mounting evidence of a substitution relationship between cannabis and alcohol, while large soda companies increasingly view CBD as a natural fit within their strategically important wellness offerings,” the analysts wrote in the note.

Since Constellation Brands Inc. (STZ.B), the beer maker behind Corona and Modelo, paid $4 billion for a 38% stake in the Canadian cannabis cultivator Canopy Growth Corp. (CGC), several other big name brands have reportedly expressed an interest in producing CBD-infused beverages, including Coca-Cola Co. (KO) and Diageo PLC. (DEO). (See also: Coca-Cola May Foray Into Cannabis-Infused Drinks.)