April Stock Splitting With A 1:1 Bonus Reward: FII-Backed Small Cap Gave Investors Eye-Popping Returns
On March 23, 2024, shares of Cupid Ltd, a small-cap business in the Hospitals & Allied Services sector, reached the upper circuit and settled at Rs 2136.45 a share. The corporation has agreed to divide the face value of shares from Rs. 10 to Rs. 1. Therefore, the stock should become more inexpensive next month. For each share held as of the record date, which is April 4, 2024, the shareholders will also be entitled to one bonus share.
The record date was released by the firm on March 21. Cupid shares have returned 82% so far this year and have provided astounding gains of 446% over the previous six months. Further information about Cupid Ltd. shares is provided below:
Performance and Return of Cupid Ltd. Shares: Following its most recent corporate action, which suggested a 1:1 bonus share and a 1:10 stock split, the stock saw a 17.98% increase. When the business announced the bonus share and stock split on January 23, 2024, the stock was valued at Rs 1810.85. As of yesterday, the price was Rs 2136.45, indicating a 17.98% return. Cupid shares have a 52-week high of Rs 2833.00 per share on the BSE and a 52-week low of Rs 235.30 per share. The stock has surged from its 52-week low by an astounding 1103.99%. In the previous year, cupid shares returned 777%; in the last three years, they climbed 870%; and in the last five years, they surged 1389%.
Record Date for 1:1 Bonus Share and 1:10 Stock Split Announced by Cupid Ltd. According to the regulatory filing filed by Cupid on March 21, 2024, “ln terms of regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Board of Directors of the Company has fixed Thursday, 4ih 4, 2024, as the Record Date.” Prior to this, Cupid Ltd. suggested a 1:1 bonus share and a 1:10 stock split in its corporate action dated January 23. This meant that stockholders would be entitled to receive one bonus share on April 4 and that one stock would be divided into ten new equities, making it more inexpensive.
FII Purchases Stake: A US-based fund has acquired a stake in Cupid Ltd. The US-based FII Minerva Ventures Fund purchased 75,000 shares in the Cupid at an average price of Rs 1193.15, per the bulk transaction data that is accessible on the NSE. According to reports, Minerva Ventures Fund paid Rs 8.94 crore for 75,000 shares at an average price of Rs 1193.15. From 0.34% to 0.45% in the December 2023 quarter and 0.5% in February, FII/FPI’s holdings have grown. From four to five FII/FPI investors in the December 2023 quarter. In the December 2023 quarter, institutional investors grew their holdings from 0.34% to 1.98%. In February 2024, DII raised their stake in Cupid to 1.5% as well.
About: Founded in 1993 as a public limited company with the Registrar of Companies, Maharashtra, Cupid Limited is a leading manufacturer and supplier of high-quality male and female condoms, water-based lubricant jelly, and IVD kits. The company was listed on the BSE (Bombay Stock Exchange) in 1995 and the NSE (National stock Exchange) in 2016. In addition to its primary manufacturing site, Cupid Ltd. has an active R&D department. According to its official website, Cupid Ltd supports governments, organizations, and medical professionals in their efforts to promote good sexual health and the significance of continuous condom use in preventing HIV and other STDs.
