Cupid surges on mulling fund raising

Cupid jumped 6.77% to Rs 310 at 12:04 IST on BSE after the company scheduled a board meeting on 5 January 2017 to consider a proposal for raising funds through issue of securities.

The announcement was made during market hours today, 28 December 2016.

Meanwhile, the S&P BSE Sensex was up 140.05 points or 0.53% at 26,353.49.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 17,939 shares in the past one quarter. The stock had hit a high of Rs 314.30 and a low of Rs 289 so far during the day.

The stock had hit a 52-week high of Rs 453.80 on 30 December 2015 and a 52-week low of Rs 228.50 on 18 February 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 1.31% compared with the Sensex's 0.39% fall. The scrip had, however, outperformed the market in the past one quarter, declining 6.59% as against the Sensex's 7.12% fall.

The small-cap company has equity capital of Rs 11.11 crore. Face value per share is Rs 10.

Cupid's net profit rose 30.4% to Rs 5.36 crore on 40.5% growth in net sales to Rs 21.53 crore in Q2 September 2016 over Q2 September 2015.

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

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