IIFL Securities's Stock Pick Today: Buy Tube Invest Of India with Target Rs 4700
IIFL Securities recommends buying Tube Invest Of India, setting a target price of Rs 4700. The stock is currently trading at Rs 4609. This represents a potential upside of around 2% for investors. The brokerage firm is positive on the company's long-term prospects, citing its strong market position in the engineering and construction sector and its focus on innovation and growth.
About Tube Invest Of India:
Tube Investments of India Limited (TII) is a diversified engineering conglomerate headquartered in Chennai, India. Founded in 1949, TII operates in the segments of bicycles, metal-formed products, precision tubes, and engineering plastics. The company's flagship brand, Hercules, is a renowned bicycle manufacturer in India. TII also produces automotive components, construction equipment, and bicycles for international markets. It has a global presence with operations in over 50 countries and manufacturing facilities in India, China, Mexico, and Poland. TII is a part of the Murugappa Group, a leading Indian business conglomerate.
52 Week Price Trend:
Tube Invest of India (TIINDIA) has witnessed a significant surge in its stock price, with its current market price (CMP) standing at Rs 4609. This represents a notable growth from its 52-week high of Rs 4125, indicating a positive market sentiment towards the company. However, it is important to note that TIINDIA's stock price has also experienced a low of Rs 2422 within the same period, highlighting the potential for volatility in its market performance. Investors should carefully assess the company's fundamentals and market conditions before making any investment decisions.
Stratzy's MOST Analysis:
TIINDIA has received the highest rating, AAA, under Stratzy's MOST framework. This indicates that the company poses a low fundamental risk and has strong management, a positive outlook, high safety, and a favorable trend. It suggests that TIINDIA's overall performance is exceptional, and it is well-positioned for future growth and stability. The AAA rating is a testament to the company's sound fundamentals and strong industry position.
Company's Fundamentals:
Tube Investments of India (TIINDIA) is a manufacturer of steel tubes, strips, and other metal products. The company's stock has a PE ratio of 78.78, indicating that investors are paying 78.78 times the company's annual earnings for each share. The PB ratio is 15.61, indicating that investors are paying 15.61 times the book value of the company's assets for each share, and the Dividend Yield is 0.1%, indicating that the company pays 0.1% of its share price in dividends each year.
Fundamental and Technical information provided in this blog were last updated on 24 Oct, 2024
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