Shares of Cupid Ltd rose sharply on Tuesday, climbing up to 4.31 per cent to reach a new all-time high of ₹507.50 on the BSE. The stock closed higher compared to its previous close of ₹486.50. So far in 2025, Cupid has given multibagger returns to investors, rising by more than 565 per cent.
The strong rise in the stock came after the company shared an important business update. In a stock exchange filing, Cupid Ltd said its board has given in-principle approval to set up a new FMCG manufacturing unit in Saudi Arabia.
This will be Cupid’s first manufacturing facility outside India. The company said the new plant will help it expand its presence in global markets, especially in the Gulf Cooperation Council (GCC) region. The Saudi Arabia unit is expected to improve supply chains, reduce delivery time, and help meet growing demand for the company’s FMCG products.
Cupid said the project will be funded using its own internal funds. The move is expected to strengthen the company’s global reach and improve product availability in Saudi Arabia and other GCC countries.
Earlier, on December 23, Cupid also announced a major reduction in promoter share pledging. The promoter and promoter group reduced their pledged shares from 36.13 per cent as of September 30, 2025, to 20 per cent. Commenting on this, Aditya Kumar Halwasiya, Chairman and Managing Director of Cupid Ltd, said the reduction reflects the company’s stronger financial position and steady business growth.