Tube Investments of India is currently trading at Rs. 351.85, up by 2.60 points or 0.74% from its previous closing of Rs. 349.25 on the BSE.
The scrip opened at Rs. 350.00 and has touched a high and low of Rs. 354.10 and Rs. 348.15 respectively. So far 2364 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 365.00 on 27-Oct-2014 and a 52 week low of Rs. 146.00 on 30-Oct-2013.
Last one week high and low of the scrip stood at Rs. 365.00 and Rs. 346.55 respectively. The current market cap of the company is Rs. 6546.93 crore.
The promoters holding in the company stood at 48.21% while Institutions and Non-Institutions held 26.14% and 23.07% respectively.
In a bid to address the infrastructure market, such as hydraulic cylinders, propeller shafts and other large-diameter-tube applications, Tube Investments of India (TII) is all set to launch its Large Diameter Tubes manufacturing plant at Tiruttani, which will be formally inaugurated on October 30. In this regard, the company will invest around Rs 250 crore.
The manufacturing facility has an installed capacity of 11,000 tonne per month and this would cater to the market requirements, which is mainly being served through imports at present.The facility would help the company to capture the Indian market from the imported products and also export to countries such as Europe and US.
Tube Investments of India is the flagship company of the Murugappa Group with multiple businesses ranging from diversified auto-ancillary products, bicycle retailing to financial services and insurance.
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