Market Performance
The stock market today saw sharp pressure on select small-cap names, with Cupid share price grabbing attention for all the wrong reasons.
Cupid shares locked at the 20% lower circuit on Friday, January 2, ending a strong 13-session winning streak. The fall came suddenly and decisively, catching traders off guard after a relentless rally over the past few weeks.
The stock opened at ₹526, marginally above its previous close of ₹524.90. Within a short span, selling intensified. Prices slipped rapidly and hit the day’s low of ₹419.95, which also marked the lower price band.
This sharp move stood out in an otherwise mixed stock market today, as volumes surged far above normal levels.
Unusual Volumes Signal Panic Selling
What stood out during the fall was the spike in trading activity.
- Over 39 lakh shares traded on the BSE by 2:45 pm
- This compares with a two-week average volume of 5.03 lakh shares
- On the NSE, around 2.21 lakh shares changed hands
- Combined sell orders stood at 58 lakh shares across both exchanges
The imbalance was clear. Sell orders dominated the counter, leaving little room for price stability during the session. The heavy volumes suggest profit booking after a sharp rally rather than a gradual correction.
Main News: No Fresh Trigger Behind the Fall
Despite the sharp decline in Cupid share price, there was no immediate negative development from the company.
The most recent exchange communication came on December 29, when Cupid announced plans to set up a new FMCG manufacturing facility in Saudi Arabia.
There were no fresh updates, regulatory actions, or earnings-related announcements on the day of the fall. The absence of new information suggests the move was driven more by market behaviour than company-specific news.
In the stock market today, such sharp reversals are often seen after extended rallies, especially in small-cap stocks.
Company Details: Expansion Beyond India
Cupid is a well-known name in the domestic manufacturing space.
- The company is a leading manufacturer of male and female condoms
- It has expanded into the FMCG segment, covering:
- Fragrances
- Personal care products
- Wellness solutions
A key strength of the business lies in its global reach.
- Cupid exports products to over 110 countries
- A significant share of revenue comes from international markets
The planned Saudi Arabia facility marks a major step in the company’s global roadmap. It will be Cupid’s first manufacturing unit outside India.
According to the filing:
- The plant will cater initially to the GCC region
- It aims to improve regional supply, faster distribution, and product availability
- The project will be funded using the company’s own internal funds.
- Execution depends on regulatory and statutory approvals
This background makes the sharp fall in Cupid share price even more striking in the stock market today.
Long-Term Performance Still Stands Out
Even after Friday’s sell-off, Cupid’s longer-term numbers remain eye-catching.
- 455% return over the last one year
- 93% gain in the past three months
- 293% rise over the last six months
These figures highlight how steep the rally has been. Such sharp gains often bring volatility, especially when short-term traders rush to lock in profits.
Summary
The fall in Cupid share price on January 2 was sharp, volume-driven, and swift. The stock hit the 20% lower circuit amid heavy selling, despite no fresh negative trigger from the company.
In the broader stock market today, the move highlights how fast sentiment can shift after a long rally, especially in small-cap stocks with sharp recent gains.
While the company continues to expand internationally and strengthen its FMCG presence, Friday’s action was more about market dynamics than fundamentals.
Source: Livemint
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