Tube Investments of India moves higher on acquiring equity shares of X2Fuels and Energy
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Tube Investments of India is currently trading at Rs.2550.00, up by 54.30 points or 2.18% from its previous closing of Rs. 2495.70 on the BSE.
The scrip opened at Rs. 2510.90 and has touched a high and low of Rs. 2562.75 and Rs. 2510.90 respectively. So far 1403 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3046.25 on 20-Dec-2022 and a 52 week low of Rs. 1440.00 on 09-Mar-2022.
Last one week high and low of the scrip stood at Rs. 2574.00 and Rs. 2375.05 respectively. The current market cap of the company is Rs. 48975.40 crore.
The promoters holding in the company stood at 46.43%, while Institutions and Non-Institutions held 41.03% and 12.54% respectively.
Tube Investments of India has acquired 10,753 equity shares of the face value of Rs 10 each, representing 50% of the subscribed and paid up share capital of X2Fuels and Energy. X2Fuels is an early-stage start-up incubated at the National Centre for Combustion Research and Development (NCCRD) at IIT Madras. The proposed investment is in line with the Company's intent to invest in start-ups engaged in innovative research and product development in fields/activities of interest to the Company.
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.
