Tube Investments shares fall 0.99% as Nifty drops

Shares of Tube Investments of India Ltd. traded 0.99 per cent down at Rs 2871.65 on Thursday at around 12:25PM (IST), while the benchmark BSE Sensex declined 51.56 points to 63091.4.

As many as 3,253 shares changed hands on the counter with a total value of Rs 0.94 crore.

The stock quoted a 52-week high price of Rs 3046.25 and a 52-week low of Rs 1458.7.

On the technical charts, the 200-DMA of the stock stood at Rs 2658.81, while 50-DMA was at Rs 2674.52. If a stock trades above 50 DMA and 200 DMA, it usually means the immediate trend is up. On the other hand, if the stock trades below 50 DMA and 200 DMA both, it is considered a bearish trend and if it trades between 50DMA and 200DMA, then it suggests the stock can go anywhere.

Shares of the company have advanced 84.82 per cent in the past one year, while Sensex has risen 13.93 per cent during the same period.

According to BSE data, the stock trades at a price-to-earnings multiple of 58.25 and a price-to-book ratio of 12.43. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price to book value indicates the inherent value of a company and reflects the price that investors are ready to pay even for no growth in a business. The stock belongs to the Cycles & Accessories industry.