Fundamentally strong stock part of the famous Indian Conglomerate the Murugappa Group jumped 5 percent after Motilal Oswal Mutual Funds brought an additional 20 lakh equity shares of the company.
At 2:28 p.m. the shares of Tube Investments of India Limited were trading at Rs. 3,469.65, up 1.67 percent from its previous day’s close price of Rs. 3,412.60 and its market capitalization is Rs. 67,161 Crores.
As per the data available on NSE Bulk deals On December 7, 2023, Motilal Oswal Mutual Funds bought an additional 10 lakh equity shares of the company at Rs. 3,348.09, thereby increasing his holding in the company.
As per the latest shareholding data available for the quarter ended September 2023, Motilal Oswal Nifty Midcap 150 ETF, holds a 1.11 percent stake in the company consisting of 21.48 lakh shares, and now with the recent stake increase it holds 31.48 Lakh equity shares of the company.
The company’s business segments consist of the Mobility sector, E-Mobility, Engineering, Metal Fomed Products, Gears and Gear Products, Power Segment, and Industrial Segment
It has reported a return on equity (ROE) of 33.1 percent, and a return on capital employed (ROCE) of 38.77 percent. It is making good returns on its equity and capital employed.
The company’s revenue from operations grew 20.22 percent from Rs. 12,447.43 Crores in FY22 to Rs. 14,964.73 Crores in FY23, accompanied by increasing profits of Rs. 768.83 Crores to Rs. 955.58 Crores.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold a 46.11 percent stake, Domestic Institutional Investors hold 12.06 percent and Foreign Institutional Investors hold 30.28 percent.
Tube Investments of India Limited (TII) is one of India’s leading manufacturers of a wide range of products for major industries such as Automotive, Railway, Construction, Mining, Agriculture, and many more.
Written by: Bharath K.S
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