Multibagger stock with 11,000% returns: Promoter raises stake, stock gains

Shares of Cupid Ltd rose over 2% today after the personal care firm said Aditya Kumar Halwasiya, promoter, Chairman and Managing Director bought 41 lakh shares through open market purchases. This transaction raises his individual stake to 34.23% against the earlier 33.92% and lifts the total promoter group ownership of the company to 47.18%. The share transaction signals robust owner confidence.

The promoter acquired 41,00,000 equity shares of face value of Re. 1/- each of Cupid Limited in the Open Market.

On September 9 too, Halwasiya acquired 15 lakh shares through an open market transaction. The acquisition amounted to 0.11 per cent of Cupid's total equity. Following the transaction, Halwasiya's personal shareholding in the company rose to 33.80 per cent, while the aggregate shareholding of the promoter and promoter group increased to 46.75 per cent.

In early deals today, Cupid shares rose 2% to Rs 256.50. Market cap of the firm stood at Rs 34,147 crore.

Cupid shares are up 210% in six months. The stock zoomed 1339% in two years and rose 6193% in three years. The stock is neither overbought nor oversold on charts with a RSI of 36.8, signaling that there are more buyers than sellers on the counter.

Cupid shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day but higher than the 100 day, 150 day and 200 moving averages. The multibagger stock closed at Rs 251.25 on Monday.

Cupid is engaged in the manufacturing and marketing of male and female condoms, water-based personal lubricants and in-vitro diagnostic (IVD) kits. It also has a portfolio of Consumer Healthcare and FMCG products.