Shares of Tube Investments fall as Nifty gains

Shares of Tube Investments of India Ltd. slipped 2.56 per cent to Rs 3201.0 in Friday's trade as of 01:03PM (IST). It hit a high of Rs 3295.1 and low of Rs 3171.15 during the session.

The stock quoted a 52-week high price of Rs 3737.15 and a low of Rs 2375.05. The return on equity for the stock stood at 24.27 per cent. About 4,309 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.62.

The scrip has been an outperformer, up 17.16 per cent in the past one year in comparison with a 12.22 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 2375.05 on September 22, while the 50-DMA was at Rs 3085.63. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 45.86 per cent stake in Tube Investments of India Ltd. as of 30-Jun-2023. Mutual funds and foreign institutional investors held 10.54 per cent and 29.41 per cent stake.