Shares of Cupid Ltd crashed nearly 20% on Friday, January 2, hitting the lower circuit and emerging as one of the top losers on the NSE. The stock fell to around Rs 420 from its previous close of Rs 524.90, wiping out a significant portion of its intraday market capitalisation.
Market data reportedly shows unusually heavy selling pressure in the last one hour of trade, with multiple large trades executed at progressively lower price levels. Notable trades reported during the session include:
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58,000 shares traded at Rs 520
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72,000 shares traded at Rs 517
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87,000 shares traded at Rs 501
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1.24 lakh shares traded at Rs 500
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1.06 lakh shares traded at Rs 482
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1.63 lakh shares traded at Rs 479
The sequence of these trades suggests aggressive profit booking, particularly after the stock’s sharp run-up in recent months, where it touched its 52-week high of Rs 526.95 earlier in the session.
The stock continues to remain under close watch as investors await official communication or clarification from the company regarding the sudden spike in volumes and price movement.
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