Tube Investments shares gain 0.68% as Sensex falls

Shares of Tube Investments of India Ltd. traded 0.68 per cent up at Rs 3229.55 at 11:11AM (IST) on Wednesday, even as BSE benchmark Sensex dropped 61.86 points to 64880.54.

The scrip had closed at Rs 3207.5 in the previous session. The stock quoted a 52-week high price of Rs 3737.15 and 52-week low of Rs 2375.05, respectively. As per BSE data, total traded volume on the counter till 11:11AM (IST) stood at 3536 shares with a turnover of Rs 1.14 crore.

At the current price, shares of the company traded at 66.35 times its trailing 12-month EPS of Rs 48.83 per share and 12.43 times its price-to-book value, exchange data showed.

A higher P/E ratio shows investors are willing to pay a higher share price today because of growth expectations in the future.

Price-to-book value indicates the inherent value of a company and reflects the price investors are ready to pay even for no growth in the business. The stock's Beta value, which measures its volatility in relation to the broader market, stood at 0.62.

Shareholding Details

Promoters held 45.85 per cent stake in the company as of 30-Sep-2023, while FIIs owned 30.42 per cent and DIIs 9.14 per cent.

Technicals
On the technical charts, the relative strength index (RSI) of the stock stood at 61.17. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio.