Buy Tube Investments; target of Rs 2230: Motilal Oswal

Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.

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26 Aug, 2025 12:21

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Motilal Oswal's research report on Tube Investments

TIINDIA's FY22 annual report highlights: a) the progress made in the core business, particularly in exports, b) capability improvements in the core business, c) strategy on e-mobility, and d) its plans to foray into Medical Devices and Electronics under its TI-2 strategy. The management's focus is on deliverance of four metrics - revenue growth (up 106% YoY in FY22), profitability (up 100bp in EBITDA margin), RoIC (up 22.3pp to 42.7%), and FCF (~INR6.4b in FY22 v/s INR1.1b in FY21).

Outlook

The stock trades at 33.2x/26.5x FY23E/FY24E consolidated EPS. We maintain our Buy rating with a TP of ~INR2,230 per share (premised on Sep'24E SoTP, based on 30x for the standalone business and valuing listed subsidiaries at a 20% holding company discount).

More Info

At 16:01 hrs Tube Investments of India Ltd was quoting at Rs 2,256.90, up Rs 246.40, or 12.26 percent.

It has touched an intraday high of Rs 2,317.90 and an intraday low of Rs 2,029.95.

It was trading with volumes of 58,057 shares, compared to its thirty day average of 6,212 shares, an increase of 834.60 percent.

In the previous trading session, the share closed up 0.66 percent or Rs 13.20 at Rs 2,010.50.

The share touched its 52-week high Rs 2,095.00 and 52-week low Rs 1,064.50 on 11 July, 2022 and 20 July, 2021, respectively.

Currently, it is trading 7.73 percent below its 52-week high and 112.02 percent above its 52-week low.

Market capitalisation stands at Rs 43,556.04 crore.

For all recommendations report, click here

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Tube Investments - 190722 - moti