Cupid Shares, one of the surprise performers of 2025, witnessed a dramatic reversal on Friday, January 2, as the Cupid share price plunged 20% to hit the lower price band of ₹419.95. The sharp fall in the Cupid share price today comes after a 13-day winning streak, leaving investors puzzled and markets buzzing with speculation over what triggered the sudden sell-off.
For a stock that has delivered a jaw-dropping 450% gain in a year, this sudden slide felt like slamming the brakes after a high-speed rally.
Unusual Volumes Signal Panic Selling
What made the drop even more noteworthy was the sheer volume of trades. On the BSE, over 39 lakh shares changed hands by 2:45 pm—almost eight times higher than the two-week average of 5.03 lakh shares. On the NSE, volumes were equally brisk, with over 2.2 lakh shares traded.
Such a spike in volume typically reflects either panic selling or large institutional repositioning. And on a day when there were no fresh company announcements, questions naturally arose—was this a correction, or did insiders know something the market didn’t?
Cupid Under Surveillance: A Reality Check
Cupid is currently under the Long-Term Additional Surveillance Measures (ASM) framework – Stage 1. This essentially means the exchange is keeping a close eye on the stock due to its recent volatility and rapid price movements.
While being under ASM doesn’t imply wrongdoing, it often signals caution for short-term traders. The stock’s exceptional rally of nearly 600% in 2025 had already put it under the market watchdog’s radar.
High Flyers Come Crashing Down
Cupid Shares, Cupid wasn’t alone in the meltdown. Another Aditya Halwasiya-backed stock, Tourism Finance Corporation of India Ltd (TFCI), also hit a 20% lower circuit, snapping its two-day winning streak. Both stocks—linked by common promoters—faced synchronized declines, intensifying the market’s curiosity.
TFCI had been gaining steadily in recent days, even rising 3% earlier in the day before the sharp reversal. But with no official company statements, the drop left both retail and institutional investors scratching their heads.
Big Block Deals Stir the Pot
Adding more intrigue, a massive trade took place in Tourism Finance earlier in the day. Around 1.5 crore shares, or 3.24% of its total equity, were traded at an average price of ₹56 per share, amounting to a whopping ₹83 crore transaction.
Such block deals often indicate large investors shifting positions behind the scenes. Whether it’s profit booking or a change in strategy remains speculative, but the timing couldn’t have been more dramatic.
Who Holds the Reins? Breaking Down Cupid’s Ownership
Cupid’s shareholding pattern shows Aditya Kumar Halwasiya as a key figure, holding a 32.58% stake in his personal capacity. Additionally, Columbia Petro Chem Pvt. Ltd. owns another 12.98% stake, reinforcing the company’s strong promoter base.
On the retail side, nearly 1 lakh small investors collectively hold around 14.7% of the company. Interestingly, Cupid has minimal institutional presence, which explains the high retail-driven volatility. When most of a company’s shares are in the hands of individual investors, price swings can become more dramatic—both upward and downward.
Tourism Finance’s Shareholding Story
Tourism Finance tells a slightly different tale. The promoter shareholding is almost negligible, but once again, Aditya Kumar Halwasiya appears as one of the top public shareholders, owning 18.8% of the company as of the September quarter.
Retail investors also have a substantial presence in TFCI’s shareholder register. Small investors, with holdings up to ₹2 lakh, control 18.9%, while larger retail investors hold 19.8%. This broad-based retail participation adds liquidity but can amplify swings during market uncertainty.
Record-Breaking Year Ends on a Volatile Note
Cupid Shares, Both Cupid and Tourism Finance were star performers in 2025. Cupid’s meteoric rise of over 450% turned it into a small-cap sensation, while TFCI almost doubled in value, notching its fifth consecutive year of positive returns.
For many investors, these stocks symbolized the dream run of India’s buoyant mid-cap and small-cap segment. But Friday’s sell-off served as a stark reminder—what goes up fast can come down just as quickly.
Market Mood: Speculation Over Substance
Without any official clarifications from either company, the market mood veered from enthusiasm to anxiety. Traders pointed fingers at possible profit booking, technical corrections, or even algorithmic sell triggers as potential culprits.
Given v’s placement under ASM, margin requirements and intraday trade limits could have led some leveraged players to unwind their positions, magnifying the effect.
The Bigger Picture: Lessons for Retail Investors
Volatility like this underscores the risks of chasing momentum stocks. When a scrip rallies hundreds of percent in a year, a correction — even a steep one — should not come as a surprise.
Retail investors, often driven by social media buzz or recent performance charts, can get caught in the euphoria. But as seen here, the market doesn’t move in straight lines. It breathes, corrects, and tests confidence before resuming its long-term path.
Similar Articles: How to Benefit from the NVDA Stock Split: A Comprehensive Guide
Conclusion
Cupid Shares, Friday’s tumble in Cupid and Tourism Finance stocks wasn’t just another day in the market — it was a reality check. Despite their strong yearly performance, stocks under surveillance or backed by concentrated shareholding remain vulnerable to sharp fluctuations.
For investors, the message is clear: diversify, research deeply, and don’t get carried away by short-term rallies. Cupid’s fall may just be a bump in its larger growth story, or it could mark the start of consolidation after a spectacular run — only time will tell.
