Shares of Cupid rallied as much as 10% to hit Rs 291 on the BSE on Tuesday, as the company is set to enter the Nifty Smallcap 250 index as part of the NSE’s latest semi-annual rejig, effective September 30.
Cupid has been among the standout performers in the market this year, with its shares surging 250% over the past six months and around 180% since the start of the year. Following its inclusion in the index, domestic brokerage Nuvama Alternative and Quantitative Research estimates the stock could see inflows of around $10 million.
