Wednesday , October 27 2021

Tube Investments gains on getting nod to raise fund worth Rs 200 crore

Tube Investments is currently trading at Rs. 1249.40, up by 17.15 points or 1.39% from its previous closing of Rs. 1232.25 on the BSE.

The scrip opened at Rs. 1311.00 and has touched a high and low of Rs. 1344.00 and Rs. 1239.55 respectively. So far 7682 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 1399.00 on 14-Jun-2021 and a 52 week low of Rs. 397.15 on 18-Jun-2020.

Last one week high and low of the scrip stood at Rs. 1399.00 and Rs. 1213.00 respectively. The current market cap of the company is Rs. 24240.15 crore.

The promoters holding in the company stood at 46.66%, while Institutions and Non-Institutions held 40.47% and 12.87% respectively.

Tube Investments of India’s (TIL) board has approved fresh long-term borrowing, to meet the company’s fund needs during the financial year 2021-22, of a sum not exceeding in the aggregate Rs 200 crore, including by way of issue of privately placed secured non-convertible debentures, in one or more tranches. The said borrowing is/will be within the overall borrowing limit specified under Section 180(1)(c) of the Companies Act, 2013.

Tube Investments of India was formed by merging TI Cycles of India and Tube Products of India. The company is in to the business of manufacturing metal products.

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