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Tube Investments shines on plan to invest in newly incorporated JVC

05 Aug 2013 Evaluate

Tube Investments of India is currently trading at Rs. 138.85, up by 0.55 points or 0.40% from its previous closing of Rs. 138.30 on the BSE.

The scrip opened at Rs. 139.10 and has touched a high and low of Rs. 140.00 and Rs. 138.00 respectively. So far 1,122 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 221.60 on 18-Dec-2012 and a 52 week low of Rs. 123.00 on 21-Jun-2013.

Last one week high and low of the scrip stood at Rs. 141.60 and Rs. 132.00 respectively. The current market cap of the company is Rs. 2,592.00 crore.

The promoters holding in the company stood at 48.25% while Institutions and Non-Institutions held 25.23% and 23.87% respectively.

Tube Investments of India (TII) has received an approval for a proposed investment by the company in the share capital of the new joint venture company (JVC) to be incorporated in India along with Tsubamex Company, Japan. The board of director at its meeting held on August 02, 2013 has approved and authorized the Postal Ballot process under Companies Act, 1956 for the same.

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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