The stock jumped more than 15% intraday on Monday, although it appeared to have crashed nearly 80% in a single day after adjusting for the bonus issue. The shares of the company saw a massive rally last year, jumping around 550% in 2025. The stock however is overall down more than 10% in 2026 so far.
Cupid’s 4:1 Bonus Issue
Earlier in January this year, Cupid said its board of directors had approved the issue of bonus shares in the ratio of 4:1. The company had set March 9 as the record date to determine the eligibility of shareholders to receive the bonus shares.
Cupid’s bonus issue came after a comprehensive evaluation of the company’s capital structure, growth trajectory, and shareholder base composition, it said, adding that the move is designed to achieve multiple strategic objectives aligned with the company’s capital allocation framework.
The bonus issue is expected to improve stock affordability by proportionately reducing the per-share price, thereby making Cupid’s equity more accessible to retail investors, the company in a filing had said.
Bonus issues consist of free shares distributed by a company from its reserves and are often seen as a sign of strong financial health and growth prospects. While the issue of bonus shares increases the total number of outstanding shares, it does not change the company’s market capitalisation. However, it can improve liquidity and affordability, allowing more investors to add shares of the company to their portfolio.Technical view on Cupid shares
Additionally, Cupid shares are showing a bullish RSI upswing. Increasing Relative Strength Index (RSI) value suggests strengthening momentum, which can indicate potential upward movement and may be used by traders to identify buying opportunities.
Also read | Cupid among 5 stocks showing bullish RSI upswing
The company manufactures and supplies male and female condoms, water-based lubricant jelly and IVD kits, and currently has a production capacity of over 480 million male condoms, 52 million female condoms and 210 million sachets of lubricant jelly annually.
The condom-maker operates a manufacturing facility in Sinnar near Nashik, about 200 km from Mumbai. It says it is the first company in the world to receive prequalification from the World Health Organization and United Nations Population Fund for the supply of both male and female condoms.
Strong Q3 results
Cupid in January had reported a strong set of earnings for the October-December quarter of the ongoing financial year 2026. The company’s net profit soared 196% year-on-year and 36% sequentially to Rs 33 crore in Q3 FY26, while total income surged 106% YoY.
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