Cupid shares soar 5% as foreign investors purchase stake in the company

Cupid Share Price Soars 5% on Thursday, Reaches Rs 1,252.80: Here’s Why

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Cupid Limited, a consumer firm, witnessed a remarkable surge in its share price on Thursday, reaching Rs 1,252.80 with a 5% increase. This new high marks a substantial growth of 432% since March 29, 2023, when the stock was at its lowest level of Rs 235.30.

Foreign investors from Mauritius played a significant role in this surge, as Minerva Ventures Fund purchased 75,000 shares of the company at a price of Rs 1,193.15 per share. Over the past year, Cupid Limited has delivered extraordinary returns to its investors, with a growth of more than 354.50%.

In January 2023, the share price of Cupid Limited was Rs 275.60, which has now skyrocketed to nearly Rs 1,252.80. This means that an investment of Rs 10,000 made in this penny stock in January 2023 would now be worth more than Rs 45,000.

Continuing its upward trajectory, the share price has witnessed a 12% increase since January 2023. It reached its highest level of 32% in December 2023 before breaking that record in October 2023 with a significant surge of 53.6%.

Last year in December, Colombia Petro Chem Private Limited and Aditya Halvasiya successfully acquired a 26% stake in Cupid Limited by purchasing 34.7 lakh equity shares at a rate of Rs 325 per share, amounting to a total of Rs 113 crore. In contrast, public shareholders only offered 367 shares in response to the open offer of 3,467,880 fully paid-up equity shares.

Despite the surge in share price, Cupid Limited witnessed a decline in its total revenue, decreasing from Rs 46.21 crore in the same quarter of the previous year to Rs 36.45 crore in the September quarter. The net profit also decreased from Rs 8.58 crore in the same period last year to Rs 5.12 crore.

Cupid Limited has undoubtedly caught the attention of investors with its remarkable growth in share price. With the recent involvement of foreign investors and consistent positive performance, the company continues to be a promising investment opportunity.

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