Tube Investments Of India

Murugappa Group firm Tube Investments of India Ltd on Thursday said it will acquire a 67 per cent equity stake in the Indian arm of South Korea's KC Altech Co Ltd for Rs 62 crore. The company has executed a definitive agreement for subscription of a 67 per cent equity stake in Kcaltech System India Pvt Ltd (KCAL India), a subsidiary of KC Altech Co Ltd, the Tube Investments of India (TII) said in a statement. "This strategic acquisition will enable TII to strengthen its position in the growing automotive sector, particularly in the domain of aluminium tubes and parts used in heating, ventilation, and air conditioning (HVAC) systems for automobiles," it added. The proposed investment will support KCAL India's expansion plans, including increasing its manufacturing capabilities, the company added. The acquisition will be carried out "by way of subscription to fresh equity shares for a consideration of about Rs 62 crore", TII said in a regulatory filing. The acquisition is expected t

The engineering division of Tube investment clocked a revenue of Rs 1,323 crore compared to Rs 1,274 crore in the corresponding period in the preceding fiscal

Tube Investments of India Ltd has reported a rise in its consolidated profit after tax for the April-June 2024 quarter, which stands at Rs 313.65 crore, the company said on Thursday. The city-based company, part of the Murugappa Group, had registered a profit after tax of Rs 277.51 crore in the same period a year ago. For the year ending March 31, 2024, the consolidated profit after tax stood at Rs 1,682.83 crore. The consolidated total income during the quarter under review grew to Rs 4,642.66 crore, as compared to Rs 3,946.14 crore recorded year ago. For the year ending March 31, 2024, the consolidated total income stood at Rs 17,142.04 crore. In a statement, the company said the revenue of the engineering business during the quarter under review grew to Rs 1,265 crore as compared to Rs 1,142 crore in the corresponding quarter last year. The company's metal formed products business registered a revenue of Rs 358 crore during the June quarter, compared to Rs 342 crore in the ...

In Europe, markets closed higher in the previous session after the Bank of England maintained its interest rates at a 16-year high of 5.25 per cent, as widely anticipated

The surge in stock price came after TII, along with Tl Clean Mobility Private Limited (TICMPL), entered into a Rs 160-crore pact with South Asia Growth Invest III LLC and South Asia EBT Trust III

It planned to raise capital to the tune of Rs 3,000 crore to fund its multiple verticals of electric vehicles

Tube Investments of India Ltd has reported a standalone profit after tax for the January-March 2024 quarter at Rs 247.88 crore, the company said on Tuesday. The city-based company, part of the diversified conglomerate Murugappa Group, had registered a standalone profit after tax at Rs 250.71 crore during the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone PAT surged to Rs 734.51 crore, from Rs 665.20 crore registered in the same period of last year. The total income, on a standalone basis, during the quarter under review grew to Rs 2,107.57 crore, from Rs 1,835.02 crore registered in the same quarter of last year. For the financial year ending March 31, 2024 the standalone total income grew to Rs 7,826.98 crore, from Rs 7,451.17 crore registered year ago. The Board of Directors have declared an interim dividend of Rs 2 per share in February 2024 and it was paid to shareholders in March 2024. The Board has now recommended a final divid

Subbiah will represent India at the EY World Entrepreneur of the Year Award in Monte Carlo from 4-7 June 2024

Tata Motors, Mahindra & Mahindra and Ashok Leyland fell 2.19 per cent, 1.55 per cent and 2.68 per cent, respectively

Signs deal to acquire 50% stake in Jayem Auto

The group registered a growth of 35.8 per cent in turnover during the year to Rs 74,220 crore compared to Rs 54,648 crore in 2021-22

The stock of auto components & equipments company was trading higher for the fourth straight day, surging 14 per cent during the period.

Company's net profit in FY23 increases 24% at Rs 956 cr from Rs 769 cr in FY22

Tube Investments board approved long-term borrowing up to Rs 300 crore to meet the company's fund requirements for FY23-24

TII will acquire 67 per cent, while Premji Invest will acquire the remaining 33 per cent

Tube Investment India's wholly-owned subsidiary TI Clean Mobility (TICM) will raise Rs 3,000 crore by March 2024 to fuel its electric vehicle business, a release said on Saturday. Of this, TII (Tube Investment India) has already invested Rs 639 crore, the company said in a statement. TICM is focused on manufacturing and marketing of electric three-wheelers. It is also into the manufacturing and marketing of e-tractors an electric heavy commercial vehicles through its subsidiaries. "TI Clean Mobility has signed definitive documents with TII, Multiples Private Equity Fund III, State Bank of India along with other co-investors to raise capital up to Rs 1,950 crore in the form of equity and compulsorily converted preferential shares (CCPS). "The total investment by Multiples, SBI and other co-investors would aggregate up to Rs 1,200 crore," it said in the statement. Investment by TII will be to the tune of Rs 750 crore, of which it has already invested Rs 639 crore by way of equity an

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The acquisition would be by subscribing to 10,753 equity shares for a total consideration of Rs 6.15 crore

On September 06, TI Clean Mobility (TCM), a subsidiary of Tube Investments of India, launched it electric vehicle - Montra Electric 3W Auto in Chennai.

The group is learning from an unsuccessful foray into e-scooters by focusing on electric tractors, three-wheelers and heavy commercial vehicles