Buy Tube Investments of India, target price Rs 1910: Yes Securities

Yes Securities has buy call on Tube Investments of India with a target price of Rs 1910. The current market price of Tube Investments of India is Rs 1798.95. Time period given by analyst is Intra Day 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 34653.23 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 30-09-2021, the company reported a Consolidated Total Income of Rs 3288.05 Crore, up 33.50 % from last quarter Total Income of Rs 2462.89 Crore and up 173.25 % from last year same quarter Total Income of Rs 1203.32 Crore. Company reported net profit after tax of Rs 201.67 Crore in latest quarter.

Investment Rationale
A sustained move above the important averages and reversal from the support zone is likely to lift the stock towards uncharted territory.

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.