Tube Investments shares rise as Q1 revenue jumps 17.7%
Business
Tube Investments of India saw its shares pop over 8% to ₹2,952 on Tuesday, even though its first-quarter profit dipped over 5% year over year to ₹158.62 crore.
What kept the mood upbeat? The company's revenue actually grew 17.7% to ₹2,227.63 crore, showing solid business momentum despite a dip in profits.
Motilal Oswal retains 'Buy' ₹3,379 target
Motilal Oswal stuck with its "Buy" rating and set a target price of ₹3,379, highlighting 17% volume growth in the Engineering business and double-digit export gains.
They also pointed out an 11.5% rise in metal-formed products revenue and praised Tube Investments for branching into new areas like EVs and battery manufacturing, moves they believe will fuel steady growth even with some margin pressure ahead.