Cupid Ltd’s share price surged to a fresh 52-week high after the company announced plans to set up a new FMCG manufacturing facility in Saudi Arabia. The development boosted investor sentiment, with markets viewing the move as a strategic step toward global expansion.
The proposed plant in the Kingdom of Saudi Arabia (KSA) is expected to strengthen Cupid’s international footprint and improve access to key markets in the Middle East and Africa. By manufacturing locally, the company aims to reduce logistics costs, improve supply-chain efficiency, and better serve regional demand.
Investors also see the Saudi facility as a long-term growth driver, potentially supporting higher revenues and margins as Cupid diversifies beyond its existing geographies. The announcement reinforced confidence in the company’s expansion strategy, triggering strong buying interest in the stock.
