Cupid shares zoom 11% after a sharp two-day fall

Shares of Cupid staged a strong recovery on Tuesday, rebounding as much as 11% to touch an intraday high of Rs 433, after witnessing a steep correction over the past two trading sessions. The bounce comes after the stock had declined nearly 25% cumulatively, reflecting renewed buying interest following the recent sell-off.

The sharp recovery appears to be driven by short covering and renewed confidence among investors in the company’s long-term fundamentals.

Cupid shares had earlier plunged nearly 20% on January 2, prompting the company to issue a clarification to stock exchanges. In its statement, Cupid Limited said it was not aware of any undisclosed material event or development that could justify the unusual movement in its share price or trading volumes.

The company emphasised that operations continue normally, with management fully focused on executing its stated strategy. It also cautioned investors to rely only on information released through official stock exchange filings and authorised communications.

Cupid further noted that it had become aware of false and unverified rumours circulating in the market, seemingly aimed at creating panic and damaging the reputation of the company and its promoters. The company stated it is reviewing the matter and will take appropriate action if required. Management reiterated that the promoters remain committed to long-term value creation and protecting stakeholder interests.

Notably, the recent fall came after a strong rally in the stock. Cupid shares had gained 34% over 15 consecutive trading sessions up to January 1, indicating significant investor enthusiasm prior to the correction.
Further supporting the recent rebound in the stock, Cupid Limited’s Q3 FY26 business update reflected healthy operating momentum and improving demand visibility. The company reported that its order book has reached an all-time high, providing strong revenue visibility for the coming quarters. In addition, Cupid continues to make steady progress on its capacity expansion plans while maintaining strong traction across global markets, reinforcing its growth outlook.

Confident FY26 Outlook

Management reiterated its confidence in surpassing its earlier FY26 guidance of Rs 335 crore in revenue and Rs 100 crore in profit after tax (PAT). This optimism is underpinned by operational efficiencies, stable demand conditions and consistent execution, which collectively position the company well for sustained performance in the remainder of the financial year.

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