Cupid Ltd, a small‑cap FMCG company, surged to a fresh all‑time high of Rs 520 on the BSE, marking a 58% rise in just one month.
Recent Performance
Over the past year the stock has jumped nearly 584%, with a year‑to‑date gain of about 580%. In the last six months it rose 383%, and over the past three months it added 141%.
Key Developments Driving the Rally
- Saudi Arabia plant approval: The board gave in‑principle approval to set up Cupid’s first overseas FMCG manufacturing unit in Saudi Arabia, aimed at serving Gulf Cooperation Council (GCC) markets. The project will be funded from internal accruals.
- Reduced promoter pledge: The promoter group cut its pledged shareholding from 36.13% to 20%, signaling stronger financial health and long‑term commitment.
Technical Outlook
Trendlyne data shows the stock trading above all major exponential moving averages (10‑, 20‑, 50‑, 100‑, and 200‑day). However, the Relative Strength Index sits at 92.5, indicating the stock is heavily overbought and could face a short‑term pullback or consolidation.
What Investors Should Watch
- Continued price momentum versus the high RSI level.
- Progress on the Saudi plant and any updates on funding or timelines.
- Further changes in promoter shareholding or other corporate actions.
Remember, this is perspective, not prediction. Do your own research and consider your risk tolerance before making any investment decisions.