New Delhi, Sept. 30 -- Shares of small-cap company Cupid surged more than 7% on Wednesday, September 30, touching a fresh record high of Rs.309.15 on the BSE. The sharp move came as the company entered the Nifty Smallcap 250 index as part of the latest semi-annual rejig by the National Stock Exchange (NSE), with the change becoming effective from September 30.

The index inclusion comes at a time when Cupid has already delivered a massive rally in the stock market. The shares have gained around 60% over the past three months and surged 267% in six months. Since the beginning of the year, the small-cap stock has risen around 200%, while its one-year gain stood at a staggering 609%.

It has now soared 639% from its 52-week low of Rs.41.80, ...