 "Cupid gains 9% on fund raising plan")
Cupid has moved higher by 9% to Rs 315 on the BSE in intra-day trade on Wednesday after the company said its board will meet on January 05, 2017, to consider the proposal for raising funds through issue of securities.
In December, the stock had underperformed the market by falling 8% as compared to 1.7% decline in the S&P BSE Sensex till Tuesday.
Cupid posted 29% year on year growth in net profit at Rs 9.20 crore during the first half (April to September) of the financial year 2016-17 (FY17). The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) margin unchanged at 41.7% both for H1FY17 and H1FY16.
The company is one of India’s leading manufacturers of quality male and female condoms. It has the capacity to produce upto 325 million pieces of male condoms and upto 20 million pieces of female condoms annually. The company exports to over 26 countries and derives around 80% of its revenues through exports.
At 12:27 pm; the stock was up 7% at Rs 312 against 0.5% rise in the benchmark index. A combined 135,538 shares changed hands on the BSE and NSE so far.
In December, the stock had underperformed the market by falling 8% as compared to 1.7% decline in the S&P BSE Sensex till Tuesday.
Cupid posted 29% year on year growth in net profit at Rs 9.20 crore during the first half (April to September) of the financial year 2016-17 (FY17). The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) margin unchanged at 41.7% both for H1FY17 and H1FY16.
The company is one of India’s leading manufacturers of quality male and female condoms. It has the capacity to produce upto 325 million pieces of male condoms and upto 20 million pieces of female condoms annually. The company exports to over 26 countries and derives around 80% of its revenues through exports.
At 12:27 pm; the stock was up 7% at Rs 312 against 0.5% rise in the benchmark index. A combined 135,538 shares changed hands on the BSE and NSE so far.