Tube Investments of India moves up as its arm acquires 50% stake in Jayem Automotives
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Tube Investments of India is currently trading at Rs. 2787.75, up by 17.25 points or 0.62% from its previous closing of Rs. 2770.50 on the BSE.
The scrip opened at Rs. 2765.40 and has touched a high and low of Rs. 2811.75 and Rs. 2765.40 respectively. So far 1366 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3394.00 on 23-Jun-2023 and a 52 week low of Rs. 2053.50 on 25-Aug-2022.
Last one week high and low of the scrip stood at Rs. 2869.90 and Rs. 2752.30 respectively. The current market cap of the company is Rs. 53545.72 crore.
The promoters holding in the company stood at 46.13%, while Institutions and Non-Institutions held 42.12% and 11.76% respectively.
Tube Investments of India’s subsidiary -- M/s. TI Clean Mobility (TICMPL) has completed acquiring 64,17,278 equity shares of the face value of Rs 10 each, representing 50% of the subscribed and paid up equity share capital of Jayem Automotives (Jayem).
Jayem is an automotive research & development company engaged in design, development, testing and manufacturing of a wide range of automotive components, systems and prototypes. The proposed acquisition by TICMPL is to augment its research & development capabilities and to broaden its product and business portfolio in the productive end of electric vehicles.
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.
