1:1 bonus share & 10:1 stock split: Heavy buying witnessed in this multibagger small-cap stock & FIIs bought 2,20,000 shares!

The shares of the company gave multibagger returns of over 850 per cent from its 52-week low of Rs 235.30 per share.

Today, one of the Top Gainers on BSE, shares of Cupid Limited were locked in a 5 per cent upper circuit to Rs 2,243.25 per share from its previous closing of Rs 2,136.45. The stock’s 52-week high is Rs 2,833 and its 52-week low is Rs 235.30. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.

The Board of Directors of the company announced bonus shares in the ratio 1:1 i.e., 1 bonus equity share of the face value of Rs 1 each fully paid up for every 1 existing equity share of the face value of Rs 1 each fully paid up. And face value of Rs 10 to Rs 1 stock split i.e., sub-division of 1 equity share of the face value of Rs 10 each fully paid-up into 10 equity shares of the face value of Rs 1 each fully paid-up. The Board did not fix the record date for bonus shares and stock split.  

Additionally, Cupid Limited has secured a significant Rs 16.23 crore order for male condoms from the Government of India's Central Medical Services Society (CMSS), demonstrating its commitment to supporting national healthcare initiatives. This follows CMSS's establishment as a central procurement agency to streamline drug distribution, and the order comprises two parts: Rs 9.65 crore and Rs 6.58 crore, to be fulfilled by April 2024.

Furthermore, Minerva Ventures Fund, a Foreign Institutional Investor (FII) based in Mountain View, California bought 2,20,000 shares of the company via 3 bulk deals on NSE as of January 2024.

Incorporated in 1993, Cupid Ltd has a market cap of over Rs 3,000 crore and has been maintaining a healthy dividend payout of 25.5 per cent. The company is engaged in the business of dealing, marketing, and manufacturing rubber contraceptives and allied prophylactic products. The company reported positive numbers in its Quarterly Results (Q3FY24) and nine-month results (9MFY24).

The stock has an ROE of 21 per cent and an ROCE of 27 per cent. The shares of the company gave multibagger returns of over 850 per cent from its 52-week low of Rs 235.30 per share. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.