Cupid soars 5 per cent as board contemplates bonus issue

The shares of Cupid witnessed an upswing of 5.4 per cent in response to the news that the company is considering allotment of bonus shares. October 12, 2018 marks the record date to determine the eligibility of members for the bonus shares of the company.

On October 13, 2018, the company will conduct a meeting with the Board of Directors to discuss the allotment of bonus shares in the ratio of 1 bonus share per existing equity share of Rs. 10 each. The company's shareholders have already consented to the proposal in the 25th Annual General Meeting held on September 28, 2018.

The bonus issue will be issued from the securities premium account and the free reserves arising out of profits.

On Friday, the shares of Cupid Limited opened at Rs. 183.60 per share, and hit a high of Rs. 192.60 per share. At 11:07 am, the stock was trading at Rs. 189.30 per share, up 3.64 per cent.