Tube Investments of India declines after recent rally

Tube Investments of India fell 2.33% to Rs 757 at 14:42 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 107.33 points, or 0.34% at 31,822.97.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 30,134 shares in the past one quarter. The stock had hit a high of Rs 776.40 and a low of Rs 756.20 so far during the day. The stock had hit a record high of Rs 780 on 10 July 2017 and a 52-week low of Rs 497.10 on 8 July 2016.

The stock had outperformed the market over the past one month till 10 July 2017, advancing 9.73% compared with the Sensex's 1.45% rise. The scrip had also outperformed the market over the past one quarter advancing 21.58% as against the Sensex's 7.24% rise. The scrip had also outperformed the market over the past one year advancing 50.29% as against the Sensex's 16.92% rise.

The large-cap company has equity capital of Rs 37.50 crore. Face value per share is Rs 2.

Shares of Tube Investments of India had rallied 12.84% in the preceding three trading sessions to settle at Rs 775.05 yesterday, 10 July 2017, from its close of Rs 686.85 on 5 July 2017.

Tube Investments of India's net profit fell 89.2% to Rs 72.50 crore on 1.5% increase in net sales to Rs 1027.16 crore in Q4 March 2017 over Q4 March 2016.

Tube Investments of India is engaged in the business of cycles and accessories; steel strips and tubes, and metal formed products. The company operates through three segments: cycles and accessories, engineering and metal formed products.

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