|
Shares of Tube Investments jumped 9.32% in the past four trading sessions to settle at Rs 1,282.45 yesterday, 16 August 2021, from its close of Rs 1,173.10 on 10 August 2021.
On the BSE, 4,420 shares were traded in the counter so far compared with average daily volumes of 12,408 shares in the past two weeks. The stock hit a 52-week high of Rs 1399 on 14 June 2021 and a 52-week low of Rs 522.75 on 24 September 2020.
On the technical front, the stock's RSI (relative strength index) stood at 61.408. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock is trading above its 50 and 100 days simple moving average placed at 1171.99 and 1172.73, respectively. These levels will act as crucial support zones in near term.
Tube Investments of India (TII), a Murugappa Group company, manufactures fabricated metal products. The company specializes in cycles, steel tubes, strips, chains, and metal formed items.
On a consolidated basis, the company's net profit stood at Rs 120 crore in Q1 FY22 compared with net loss Rs 64.1 crore in Q1 FY21. Net sales jumped 432.6% to Rs 2,343 crore in Q1 FY22 over Q1 FY21.
|