Cupid Board To Consider Bonus Issue, Fundraise; Shares Locked In 5% Upper Circuit
The board will also consider stock split including the announcement of the company's third-quarter business update.
Shares of Cupid Ltd. hit an upper circuit of 5% for the third day in a row to a fresh record high on Monday after its board said they will consider fundraise and bonus issue on Jan. 23.
The board will also consider stock split including the announcement of the company's third-quarter business update in the meeting.
Additionally, the company has also received an order worth Rs 9.65 crore from Central Medical Services Society for sexual wellness products. The order contract will be executed by April, according to an exchange filing.
Shares of Cupid were locked in upper circuit of 5% since opening on Monday. The share price rose to Rs 1,318.15 apiece, highest since listing on Sept. 16, 2016. This compares to 0.16% decline on NSE Nifty 50.
The stock has risen 405.18% in 12 months. Total traded volume so far in the day stood at 0.1 times its 30-day average. The relative strength index was at 87.47, implying that the stock may be overbought.
