Cupid’s rally has been steep and consistent. Over the past year, the stock has surged nearly 584%, while its year-to-date gain stands at an impressive 579.91%. In just the last six months, the stock has climbed 383%, while the three-month gain is 141.22%.
Even in shorter windows, Cupid has remained strong, rising 57.5% in one month, 20.92% in two weeks, and 9.65% in the last week.
While the latest leg of the rally is not tied to any fresh announcement, it follows two significant updates from the company in recent weeks. On Monday, Cupid announced that it had received in-principle board approval to set up its first overseas FMCG manufacturing facility in Saudi Arabia.
The facility is aimed at enhancing its regional supply capabilities across the Gulf Cooperation Council (GCC) markets and will be funded through internal accruals.
A week earlier, the company disclosed that its promoter group had reduced pledged shareholding from 36.13% to 20%, highlighting improved financial strength and long-term commitment to the business.
Technicals indicate strength
Technically, according to Trendlyne data, the stock is in a strong uptrend, trading above all key exponential moving averages (10-day, 20-day, 50-day, 100-day, and 200-day). However, with the Relative Strength Index (RSI) at 92.5, the stock is in strongly overbought territory, which could warrant a near-term pullback or consolidation.
Cupid currently has a market cap of around Rs 13,952 crore and remains under ASM LT Stage 1 surveillance, with a high trailing PE ratio. Despite that, investor interest remains elevated amid strong momentum and recent strategic updates.
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