India's Cupid jumps on land purchase for capacity expansion

Cupid

05/12/2023 04:41

** Shares of Cupid  CUCO.NS  up as much as 5.9% at 914
rupees, their highest since Nov. 23 
    ** Condom maker said it acquired land in an industrial area
in Mumbai
    ** Acquisition to expand production capacity by 1.5 times;
capacity addition to increase male condom production to 1.25 bln
units and female condoms to 125 mln units 
    ** CUCO trading above its 50-, 100-, and 200-day simple
moving averages
    ** Stock's relative strength index is above 70, indicating
it is overbought     
    ** Stock last up 5.4%, extending YTD gains to over 220% 

 (Reporting by Manvi Pant)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))