Page 2 - Tube Investments Of India

Murugappa Group posts 24% rise in net profit to Rs 6,846 crore in 2022-23

The group registered a growth of 35.8 per cent in turnover during the year to Rs 74,220 crore compared to Rs 54,648 crore in 2021-22

Tube Investments hits new high; rallies 5% on healthy business outlook

The stock of auto components & equipments company was trading higher for the fourth straight day, surging 14 per cent during the period.

Manufacturing firm Tube Investments' Q4 profit rises 74% at Rs 312 cr

Company's net profit in FY23 increases 24% at Rs 956 cr from Rs 769 cr in FY22

Tube Investments Q4 results: Net profit rises 74% to Rs 312 crore

Tube Investments board approved long-term borrowing up to Rs 300 crore to meet the company's fund requirements for FY23-24

TII, Premji Invest sign share purchase agreement to acquire Lotus Surgicals

TII will acquire 67 per cent, while Premji Invest will acquire the remaining 33 per cent

Tube Investment's TI Clean Mobility to raise Rs 3,000 cr by March 2024

Tube Investment India's wholly-owned subsidiary TI Clean Mobility (TICM) will raise Rs 3,000 crore by March 2024 to fuel its electric vehicle business, a release said on Saturday. Of this, TII (Tube Investment India) has already invested Rs 639 crore, the company said in a statement. TICM is focused on manufacturing and marketing of electric three-wheelers. It is also into the manufacturing and marketing of e-tractors an electric heavy commercial vehicles through its subsidiaries. "TI Clean Mobility has signed definitive documents with TII, Multiples Private Equity Fund III, State Bank of India along with other co-investors to raise capital up to Rs 1,950 crore in the form of equity and compulsorily converted preferential shares (CCPS). "The total investment by Multiples, SBI and other co-investors would aggregate up to Rs 1,200 crore," it said in the statement. Investment by TII will be to the tune of Rs 750 crore, of which it has already invested Rs 639 crore by way of equity an

Sensex, Nifty end flat after listless trade; auto stocks rally, banks fall

CLOSING BELL: Reliance Industries, Wipro, IndusInd Bank, Axis Bank, Tech M, Tata Steel, Maruti Suzuki, and M&M were the top Sensex gainers, rising between 0.5 per cent and 1.2 per cent

Tube Investments of India acquires 50% stake in X2Fuels and Energy

The acquisition would be by subscribing to 10,753 equity shares for a total consideration of Rs 6.15 crore

Tube Investments hits record high, up 22% in six trading sessions

On September 06, TI Clean Mobility (TCM), a subsidiary of Tube Investments of India, launched it electric vehicle - Montra Electric 3W Auto in Chennai.

TII gears up for EV re-entry; to focus on e-tractors, 3-wheelers, heavy CVs

The group is learning from an unsuccessful foray into e-scooters by focusing on electric tractors, three-wheelers and heavy commercial vehicles

TI Clean Mobility to acquire 65% in IPL Tech Electric for Rs 246 cr

The deal would be done through a combination of primary and secondary purchases of shares

Tube Investments gains 4% as arm acquires majority stake in an EV startup

The company to buy 65.2 per cent stake in lPL Tech Electric Private Limited a startup engaged in manufacturing and sale of electric heavy commercial vehicles.

Tube Investments to launch electric 3-wheeler passenger vehicles by March

Following this, TII will gradually look into the cargo segment, scooters and e-rickshaws

Tube Investments net profit in third quarter rises 37% to Rs 107 cr

The company's revenue for the quarter was at Rs 1,309 cr as against Rs 976 cr in the corresponding quarter of the previous year

Top headlines: India loses Cairn arbitration case; Honda shuts Noida plant

Business Standard brings you top news of the evening

Tube Investments increases stake in CG Power after preferential allotment

Initially, TII invested around Rs 700 crore to acquire 51% stake in the scam-hit CG Power and Industrial Solutions

Tube Investments looks to reduce dependence on automobile industry

With the largest acquisition in its history, the Murugappa flagship is looking to reduce its dependence on the automobile industry and find new markets

CG Power to start creating cash next year and pay debt: Tube Investments MD

In an interview with Business Standard, Vellayan Subbiah, MD, spoke on how the acquisition fits in the firm's strategy and how it plans to turn around CG Power

Tube Investments to raise funds from Azim Premji Trust, SBI MF; stock up 5%

The company has agreed to raise Rs 350 crore on a private placement basis via preferential allotment to Azim Premji Trust and two schemes of SBI Mutual Fund (MF)

TII to raise money from Azim Premji, SBI MF to acquire CG Power, fund capex

TII will raise Rs 350 crore from Azim Premji Trust and SBI Mutual fund through preferential issue