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Buy Tube Investments; target of Rs 1900: Motilal Oswal

Motilal Oswal is bullish on Tube Investments has recommended buy rating on the stock with a target price of Rs 1900 in its research report dated June 23, 2022.

June 24, 2022 / 03:28 PM IST
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Motilal Oswal's research report on Tube Investments

Tube Investments (TIINDIA) is a flagship company of the Murugappa group. It has a diversified range of products under its three verticals – engineering (57% of S/A FY22 revenue), metal forming products (19%), bicycles (15%) and others (9%). It is the market leader in manufacturing precision steel tubes under engineering vertical with ~60% market share in telescopic front fork suspension; it is a significant player in car door frames and the largest player in fragmented industrial chains segment (35% market share) under metal forming vertical. It is also the second largest player in bicycle business.


We initiate coverage on the stock with a BUY rating and a TP of ~INR1,900.


For all recommendations report, click here

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Broker Research
first published: Jun 24, 2022 03:28 pm
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