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NSE Announcements on Tube Investment
Posted by :
MMB MessengerTube Investments Of India Ltd has submitted to the Exchange a copy of the letter dated November 09, 2009 sent to companys shareholders informing them about the performance of the Company for the half year ended September 30, 2009. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
NSE Announcements on Tube Investment
Posted by : MMB MessengerTube Investments Of India Ltd has informed the Exchange regarding a press release dated October 30, 2009 titled "TUBE INVESTMENTS OF INDIA LTD HALF YEAR OPERATING PROFIT UP 27%". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements)....
BSE Announcements on Tube Investment
Posted by : MMB MessengerTube Investments of India Ltd has informed BSE regarding a Press Release titled "Tube Investments of India Ltd Half Year Operating Profit Up 27%" ...
BSE Announcements on Tube Investment
Posted by : MMB MessengerTube Investments of India Ltd has informed BSE about the Financial Results for the Quarter ended September 30, 2009....
Toyota has purchased shares of TI thru` its global financial arm
Posted by :
vghpunter, the news is relatively old was published in many dailies and if you search for toyota+tube+investments in the google you can refer to this news in times of india, hindu etc...
Toyota has purchased shares of TI thru` its global financial arm
Posted by :
PUNTERThat is good news. What is your source ?...
Toyota has purchased shares of TI thru` its global financial arm
Posted by : GuestToyota has purchased shares of TI india.It is unclear at current stage about Toyota`s intention.But from TI india perspective it will be very good...
TI is holding 31 percent of Chola DBS Fin
Posted by : Rattian
Murugappas seen exiting Chola DBS
11 Sep 2009, 0313 hrs IST, Sugata Ghosh & George Smith Alexander, ET Bureau
MUMBAI: One of India’s largest private non-bank lenders, Cholamandalam DBS Finance, may soon see a change of control. Murugappa Group, the
original promoters of Chola DBS, is understood to have reached an understanding to sell its equity stake in the company to its partner, DBS — the largest bank in Singapore. Senior company officials, however, strongly denied that any such transaction was being planned.
A number of persons familiar with the situation told ET the contours of the deal were laid out at a meeting in Singapore sometime early August between members of the promoter- family and DBS. It will mark the Murugappa Group’s exit from some of the financial services.
According to one source familiar with the group’s decision, the change-over is likely to be timed with the retirement of Murugappa Group chairman, MA Alagappan, whose term comes to an end next month. But the newly-appointed chairman, A Vellayan, who will succeed Mr Alagappan, the company spokesperson as well as N Srinivasan, director-in-charge at Chola DBS, categorically denied any such development. When ET contacted him, Mr Alagappan said: “I don’t want to comment on speculation.”
The formal announcement, sources said, is expected towards October end, after Chola DBS announces its quarterly results.
Responding to an email query, a DBS spokesperson, said: “As a policy, we do not comment on market speculation. India remains a key market for DBS, and we continue to look at ways to expand our business here.”
DBS, being a co-promoter since 2005, will not have to make an open offer for any stock purchases from the Murugappa Group. At present, both are equal partners in Chola DBS with 37.5% stake each while the balance 25% equity is with the public. Of the 37.5% held by the Murugappa Group, about 31% is with Tube Investments of India (TI), a leading company of the group. The plan to dilute stake in Chola DBS, it’s believed, is partly driven by some resistance on the part of TI to pump in more money into the group’s non-banking finance arm.
The Chola DBS Finance scrip, which rose 40% in the past one week, has been hitting the upper circuit since September 7. Of Chola’s Rs 8,500-crore asset book, 51% is contributed by vehicle finance and 31% by personal loans.
Chola DBS Finance is also the 100% owner of the group’s brokerage, wealth and asset management companies. ET had reported in its edition dated August 9 that Chola was looking for a buyer for the AMC. For the quarter ended June 30, Chola DBS, on a consolidated basis, recorded a loss of Rs 70 lakh, significantly down from Rs 6.6 crore in the year-ago period.
Once there is a change in the ownership of Chola DBS, the Murugappa Group’s interest in financial services will be confined to its general insurance joint venture with the Japanese group, Mitsui Sumitomo. The Murugappa group, which had entered into a three-way MoU with Mitsui and a public sector bank to promote a life insurance company, later decided not to pursue the venture.
A possible deal between Chola and DBS has been the subject of speculation for the past few years, and the negotiations, sources said, have taken many twists and turns. At one point, the Murugappa Group had offered to buy out DBS, when the Singapore bank quoted a lower valuation for the company that was saddled with sticky personal loans. But subsequently, DBS, which is keen to expand its footprint in India, is believed to have raised the price it’s willing to pay. ...
Buy Long term investment
Posted by : Rattian
Buy Tube Investment Of India For Long Term: Abhishek Jain, Stocksidea dot com
Submitted by Shilpa Mahapatre on Tue, 08/18/2009 - 03:46.
The Co. was incorporated in 1949; at Madras is the company of the Murugappa group. The company has a cycle division and a Tube Division functioning as separate units in the names of T. I. Cycle of India and Tube Products of India. The Co. also runs a cold Rolling mill and metal section. TI Mills Ltd., a wholly owned subsidiary of Tube Investment of India Ltd. merged with TIL with effect from 1st January 1984. Tube Investments of India was set up to manufacture bicycles in collaboration with Tube Investments Plc, UK. In 2002, Tube Investments opened an office in China to outsource bicycle components, besides gathering market intelligence. In 2002, the board of directors approved the buyback of 61,55,769 number of equity shares representing 25 per cent of the equity capital.
Products & Services-
Tube investment is one of the leading engineering companies in India. Its portfolio of product has various products like precision tubes, steel strips, and bicycles. Its top brands are Hercules and BSA SLR. The company has also diversified into steel tubes and roll form products. Its latest foray is in auto ancillaries. In the auto ancillary segment, it commissioned two doorframe projects, one at Chennai, and another at Haryana. These facilities supply doorframes to Hyundai Motor and Maruti Udyog. Its subsidiary, TI Diamond Chain (TIDC), makes chains for bicycles, auto and industrial applications. On the marketing front, TIDC plans to increase its presence in Europe, Latin America and South-East Asia. Company has set up a new plant in Nasik to manufacture bicycles to cater to its northern and western markets. It is increasing its capacity rapidly every year. Company is maintaining its market share and manufacturing only key components. As an extension of its lines of operation, the company is foraying into helmets, elbow pads and kneepads and other products in the coming years.
Tube Investments of India kicked off its new electric scooter plant in Chennai, at an investment of around Rs 200 million. The company will be launching the product this September. The initial capacity of the new plant will be 100 scooters a day. The battery-powered two- wheelers would be launched under the company`s popular bicycle brand, BSA. Tube Investments will initially market the two-wheelers in south India, and based on the market responses it will be launched at national level later. The company will appoint around 70 dealers in the Tier I and II cities in the southern region. Initially the company will launch three low speed models, which will be priced around Rs 25,000 and two high-speed models at a market price of around Rs 36,000. Tube Investments of India has disclosed that it has subscribed up to Rs 1.50 billion in 1% fully convertible cumulative preference shares (FCCPS) of Cholamandalam DBS Finance being issued on preferential basis. The FCCPS are convertible into equity shares within a period of 18 months from the date of allotment.
Valuation-
At current market price, stock trades at valuation of 11.2 P/E multiple of its Financial Year 2010 Estimated earnings. We recommend investors to "BUY" Tube investment of India" with medium to long-term investment prospective.
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NSE Announcements on Tube Investment
Posted by : MMB MessengerTube Investments Of India Ltd has submitted to the Exchange a copy of the minutes of the Annual General Meeting of the Shareholders of the Company held on July 29, 2009. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on Tube Investment
Posted by : MMB MessengerTube Investments of India Ltd has informed BSE that the Annual General Meeting (AGM) of the Company was held on July 29, 2009....
Buy Tube Investment for short term
Posted by : pratikshah83source: swingtradingtips. net...
NSE Announcements on Tube Investment
Posted by : MMB MessengerTube Investments of India Ltd has informed the Exchange that the auditors have conducted the limited review for the un-audited financial results for the quarter ended June 30,2009. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
NSE Announcements on Tube Investment
Posted by : MMB MessengerTube Investments Of India Ltd has informed the Exchange vide notes to Accounts in the Unaudited Financial Results for the quarter ended June 30, 2009 (taken on record by the Board of Directors of the Company at its meeting held on July 29, 2009) that "With reference to the observations of the Auditors on the consolidated financial statements regarding the clearance of certain open items in some of the Bank Reconciliation Statements of Cholamandalam DBS Finance Limited (CDFL), CDFL has made significant progress in resolving the outstanding open items. CDFL is of the opinion that the adjustments, if any, arising out of clearance of the balance items should not have a material impact on its reported results for the quarter ended June 30, 2009"....
NSE Announcements on Tube Investment
Posted by : MMB MessengerTube Investments Of India Ltd has informed the Exchange regarding a press release dated July 29, 2009, titled "Quarterly Financial Results of Tube Investments of India Limited". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
