Block Deal: Tube Investments Shares Slip 6% Today, Volume Spurts By 246 Times

Tube Investments of India stock price witnessed a decline of more than 6% in the morning trade on September 29, 2023 amid reports of a block deal. Current market price of Tube Investments stock on BSE is Rs 3008.95 apiece with intraday fall of 2.93% at the time of writing the report. The stock also witnessed a strong spurt in volume by more than 246 times today. Tube Investments shares rallied 119% in last 2-years. Nearly 1.04 million Tube Investments shares changed hands in a bunch of trades, according to a Bloomberg report. Check details below:

Tube Investments Shares Performance & Return: Current market price of Tube Investments of India Ltd share is Rs 3025.20 per share on BSE. Tube Investments stock opened at 3051.05 on BSE, hit day's high of Rs 3094.65 per share, and day's low of Rs 2900.00 apiece, respectively. Its 52-week high price is Rs 3737.15 apiece and 52-week low price is Rs 2375.05 apiece, respectively. The company has a market capitalisation of Rs 58,557.23 crore. Tube Investments stock witnessed a gain of 18% in last 6-months, soared 17% in last 1-year, offered shareholders return of 119% in last 2-years, rallied 395% in last 3-years, and gained 925% in last 5-years.

Tube Investments Financials: The company for the quarter ended June 30, 2023 announced its net sales at Rs 3897.66 crore, up 2.6% as against Rs 3798.90 crore in June 2022. Its quarterly net profit was declared at Rs 214.97 crore in June 2023, up 10.49% as against Rs 194.56 crore in June 2022. The company declared its EBITDA at Rs 515.46 crore In June 2023, up 18.22% as against Rs 436.03 crore in June 2022.

Tube Investments of India Ltd About: It is a leading engineering company and part of the Murugappa Group. The Group has 28 businesses and headquartered in Chennai. The major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd.,

Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd. Tube Investments of India Ltd. is engaged in manufacturing of precision steel tubes and strips, car doorframes, automotive and industrial chains and bicycles, according to its official website.

Disclaimer

The stock just highlights the decline amid block deal and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.