Mumbai, December 30 (Udaipur Kiran): Shares of Cupid Ltd moved higher on Monday after the company announced that it has received in-principle approval to set up a new FMCG manufacturing facility in Saudi Arabia. The stock was trading at ₹488.60, up by ₹2.10 or 0.43 per cent on the BSE.

The scrip opened at ₹489.10 and touched an intraday high of ₹498.30 and a low of ₹485.85. A total of 98,013 shares were traded during the session. The stock’s 52-week high stands at ₹498.30, recorded on December 30, 2025, while the 52-week low of ₹50.00 was touched on April 7, 2025. The company’s market capitalisation currently stands at ₹13,060.93 crore.

Promoters hold a 45.55 per cent stake in the company, while institutional and non-institutional investors hold 2.89 per cent and 51.56 per cent respectively.

Cupid has received in-principle approval from its board to establish a new FMCG manufacturing facility in the Kingdom of Saudi Arabia (KSA). This will be the company’s first manufacturing unit outside India and marks a significant milestone in its global expansion strategy.

The proposed facility aims to strengthen Cupid’s presence in international markets, particularly across the Gulf Cooperation Council (GCC) region. It is expected to improve supply efficiency, enhance market reach, and ensure faster delivery of products across the Middle East.

The project will be funded through internal accruals and will move forward after completing all necessary regulatory and statutory approvals. The company stated that the initiative aligns with its long-term growth strategy and commitment to expanding its global manufacturing footprint.

Cupid is engaged in the manufacturing and marketing of male and female condoms, water-based lubricants, latex dental dams, and probe covers, with its products being sold across several international markets.