Tube Investments of India rises as its arm acquires 65.2% stake in IPLTech Electric
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Tube Investments of India is currently trading at Rs. 2763.70, up by 31.65 points or 1.16% from its previous closing of Rs. 2732.05 on the BSE.
The scrip opened at Rs. 2765.00 and has touched a high and low of Rs. 2771.95 and Rs. 2748.00 respectively. So far 2187 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2823.00 on 12-Sep-2022 and a 52 week low of Rs. 1281.00 on 07-Oct-2021.
Last one week high and low of the scrip stood at Rs. 2792.75 and Rs. 2485.00 respectively. The current market cap of the company is Rs. 52732.65 crore.
The promoters holding in the company stood at 46.45%, while Institutions and Non-Institutions held 40.60% and 12.95% respectively.
Tube Investments of India’s wholly owned subsidiary -- Tl Clean Mobility (TICMPL) has acquired 13,836 equity shares of the face value of Rs 10 each, representing about 65.2% of the subscribed and paid up equity share capital of IPLTech Electric (IPLT). IPLT is a startup engaged in manufacturing and sale of electric heavy commercial vehicles. Earlier, the company had entered into definitive agreements for this acquisition.
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.
