Tube Investments shares gain 0.3% as Sensex falls

Shares of Tube Investments of India Ltd. traded 0.3 per cent higher in Thursday's session at 11:31AM (IST). The stock opened at Rs 3094.95 and has touched an intraday high and low of Rs 3094.95 and Rs 2982.55, respectively, during the session so far.

The stock quoted a 52-week high of Rs 3394.0 and a 52-week low of 1983.25. About 2,636 shares changed hands on the counter so far.

Benchmark Nifty50 was down 26.4 points at 19500.15, while the BSE Sensex traded 120.91 points lower at 65661.87 at the time of writing of this report.

In the Nifty pack, 20 stocks traded the day in the green, while 30 were in the red.


Key Financials
For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 3823.42 crore, up 2.89 per cent from the previous quarter's Rs 3716.1 crore and up 10.91 per cent from the year-ago quarter. The company reported net profit of Rs 311.84 crore for the latest quarter.

Promoter Holdings
Promoters held 46.13 per cent stake in the company as of 30-Jun-2023, while FIIs held 29.41 per cent and MFs 10.54 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 2774.32 on August 03, while the 50-DMA was at Rs 3058.66. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.