Shares of Cupid rallied as much as 7% to their day’s high of Rs 307 on the NSE on Wednesday, after the company entered the Nifty Smallcap 250 index today as part of the NSE’s latest semi-annual rejig. With Wednesday’s surge, the stock is up 16% in two sessions.
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.
