Tube Investments looks to auto sector

Murugappa Group firm Tube Investments of India is expecting growth in the domestic market for automotive industry, which would help grow its automotive chains business during the current fiscal, according to the company’s senior management officials. It manufactures automotive components, apart from its bicycles manufacturing and financial services businesses.

“We expect, with the growth we are seeing in the automotive industry in the current year, a growth in the domestic market,” said L Ramkumar, managing director of Tube Investments of India Ltd in a recent earnings call.

There are challenges of steel price hikes, as there has been a lot of fluctuation