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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.


Outlook

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

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


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

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