Cupid Limited, an Indian media and entertainment company, is seeing a recovery in its share price following a period of volatility. This comes as Tourism Finance Corporation Ltd. (TFCL), in which Cupid holds a significant stake, experienced a substantial 20% increase in its stock value.

Cupid issued a statement addressing what it described as “certain false and unverified rumors” circulating in the market. The company believes these rumors are being intentionally spread to create panic and damage the reputation of Cupid and its leadership. The statement indicated that the company is currently reviewing the situation and will take necessary actions if warranted.

While the original statement does not detail the nature of the rumors, it signals concern over potential market manipulation or misinformation. The surge in TFCL’s stock price may be contributing to the positive sentiment surrounding Cupid, suggesting a potential benefit from the performance of its investment.

Cupid's management is keen on protecting its reputation and ensuring transparency in the market. Further updates are expected as the company continues its review and determines the appropriate course of action regarding the circulating rumors. Investors are advised to rely on official company statements for accurate information.