Cupid shares slip 20%, snap 13-session rally; stock still up over 454% in a year

Shares of Cupid Ltd fell sharply in Friday's trade, falling 20 per cent to hit a low of Rs 419.95, thereby snapping a strong 13-session rally. Despite the steep decline, the stock has delivered robust returns of 454.46 per cent over the past one year.

Meanwhile, stock exchanges BSE and NSE have placed Cupid's securities under the long-term Additional Surveillance Measure (ASM) framework. Stocks are moved into short-term or long-term ASM frameworks to caution investors against heightened volatility in share prices and to enhance market surveillance.

On the corporate front, the company recently informed the exchanges that its Board of Directors has granted in-principle approval to set up a new FMCG manufacturing facility in the Kingdom of Saudi Arabia (KSA). This will be Cupid's first manufacturing unit outside India, marking a key development in its international expansion plans.

Commenting on the development, the company said, "The proposed facility is aimed at supporting Cupid Ltd's FMCG growth strategy and strengthening its presence in overseas markets, beginning with the Gulf Cooperation Council (GCC) region. The plant is expected to enhance regional supply capabilities, improve speed to market, and ensure better product availability across KSA and other GCC countries."

Technically, the stock traded below the 5-day, 10-day and 20-day simple moving averages (SMAs) but above the 30-day, 50-, 100-, 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 30.02. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The scrip has a standalone/consolidated price-to-earnings (P/E) ratio of 182.59/182.76 against a price-to-book (P/B) value of 35.17. Earnings per share (EPS) stood at 2.30/2.30 with a return on equity (RoE) of 19.26. As per Trendlyne data, Cupid has a one-year beta of 0.74, indicating low volatility.