Tube Investments up for third straight day; stock hits new high

The stock up 5% to Rs 359, gaining 9% in past three days, as compared to 1% rise in the S&P BSE Sensex.

Shares of Tube Investments of India, a Murugappa Grou company, were trading higher for the third straight day, rising 5% to Rs 359 per share, hitting a new high on the BSE in an otherwise range-bound market, on expectations of strong earnings growth.

The stock surpassed its previous high of Rs 350 touched on December 13, 2018, in intra-day trade. In the past three trading days, the stock gained 9% as compared to a 1% rise in the S&P BSE Sensex.

The stock of Tube Investments zoomed 70% from its 52-week low of Rs 212 on May 24, 2018. In