Market in red but condom-maker Cupid jumps 15%: Know why Sexual wellness brand Cupid's share price surged by 15% despite a broader stock market decline on Monday. The company announced a bonus issue in a 4:1 ratio, meaning shareholders will receive four additional shares for every existing share they hold as of the record date. The allotment date for the bonus shares is set for Tuesday, March 10. Bonus shares are distributed to existing shareholders at no cost, typically from retained earnings, as a reward for their investment. For example, a shareholder owning 1,000 shares of Cupid would receive 4,000 bonus shares, increasing their total holdings to 5,000 shares. At the time of the report, the stock was trading at ₹90.5, reflecting a 12.5% increase. Meanwhile, major Indian stock indices fell sharply on Monday. The Sensex dropped by nearly 2,400 points to 76,424, while the Nifty 50 declined over 700 points to 23,750. The market downturn was linked to rising crude oil prices, which are expected to strain the South Asian economy. Higher oil costs could impact growth, inflation, and import expenses for the world's third-largest oil importer.#sensex #nifty_50 #crude_oil #cupid #bonus_shares
