Accumulate Tube Investments of India, target price Rs 1746: Geojit

Geojit has accumulate call on Tube Investments of India with a target price of Rs 1746. The current market price of Tube Investments of India is Rs 1495.8. Time period given by analyst is one year when Tube Investments of India Ltd. price can reach defined target.

Tube Investments of India Ltd., incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 28868.37 Crore) operating in Consumer Durables sector.

Tube Investments of India Ltd. key Products/Revenue Segments include Metal Products, Cycles/Components, Scrap, Other Operating Revenue, Service Income and Conversion Charges for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3435.71 Crore, up 4.49 % from last quarter Total Income of Rs 3288.05 Crore and up 100.65 % from last year same quarter Total Income of Rs 1712.30 Crore. Company reported net profit after tax of Rs 390.07 Crore in latest quarter.

Investment Rationale
Given the strong fundamentals and strategic change adopted in the company’s segment mix, the brokerage values TII on a consolidated basis and recommend Accumulate with a target price of Rs1,746 at CMP.


Promoter/FII Holdings
Promoters held 46.48 per cent stake in the company as of 31-Dec-2021, while FIIs owned 26.43 per cent, DIIs 14.62 per cent.