Cupid soars after securing a long-term contract

Cupid surged 7.5% to Rs 338.10 at 14:41 IST on BSE after the company said it has secured a non-exclusive long term contract for manufacture and supply of Cupid female condoms to United Nations Population Fund for a period of 3 years.

The announcement was made after market hours on Friday, 11 March 2016.

Meanwhile, the S&P BSE Sensex was up 22.26 points or 0.09% at 24,740.25.

On BSE, so far 54,000 shares were traded in the counter as against average daily volume of 40,316 shares in the past one quarter. The stock hit a high of Rs 344 and a low of Rs 333 so far during the day. The stock had hit a record high of Rs 507 on 8 December 2015. The stock had hit a 52-week low of Rs 66.15 on 23 March 2015. The stock had underperformed the market over the past one month till 11 March 2016, advancing 7.67% compared with the Sensex's 7.7% rise. The scrip had also underperformed the market in past one quarter, declining 33.79% as against Sensex's 1.3% fall.

The small-cap company has equity capital of Rs 11.12 crore. Face value per share is Rs 10.

Cupid's net profit rose 48.6% to Rs 4.19 crore on 29.2% growth in net sales to Rs 15.61 crore in Q3 December 2015 over Q3 December 2014.

Cupid is a leading manufacturer of quality male and female condoms.

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