Tube Investments

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

Acquirer was already holding 69.96% of Cellestial. On Friday, it signed a deal to buy the balance 30.04% for Rs 50.90 cr

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

These stocks will witness inflows between $165 million and $255 million from passive trackers, analysts said

Varun Beverages, Tube Investments, IHCL seen as potential inclusions

Tube Investments of India of the diversified conglomerate Murugappa Group has reported a standalone profit after tax (PAT) at Rs 142.46 crore for the July-August 2022 quarter, the company said on Friday. The company registered standalone PAT at Rs 121.42 crore during the corresponding quarter last year. For the half-year ending September 30, 2022 the standalone PAT grew to Rs 276.78 crore from Rs 218.38 crore the corresponding period last year. The standalone total revenue from operations grew to Rs 1,920.32 crore from Rs 1,676.35 crore. For the six-month period, the standalone total revenue went up to Rs 3,889.36 crore from Rs 2,943.99 crore. The engineering business reported revenues of Rs 1,192 crore during the quarter ending September 2022 as compared to Rs 1,207 crore last year. Revenue from the metal formed products was at Rs 371 crore as against Rs 328 crore. The mobility division registered revenues of Rs 226 crore during the quarter under review as compared to Rs 262 cr

Launch is part of the group's strategy to focus aggressively on EVs, with e-3W under the brand Montra Electric, electric tractors under Cellestial Egat, electric HCVs under Rhino 5536 brand

The company said in a statement that it has identified electronic products and components as a growth sector

The deal would be done through a combination of primary and secondary purchases of shares

TII's diversified approach to de-risk from auto sector and concentrate more on other industrial segments (like railways & powers through the inorganic form) to support long-term revenue visibility.

Total income for the year ending March 31, 2022 rose to Rs 6,432.91 crore from Rs 4,302.28 crore registered a year ago

According to an analysis done by IIFL Alternative Research, 15 companies are set to migrate from FTSE All-Cap index to FTSE All-World

Cipla, Federal Bank, Finolex Industries, Indiabulls Real Estate, ICRA, Macrotech Developers, Maruti Suzuki, Pidilite, SRF, Torrent Pharma and United Spirits to announce results today.

Company will start making and selling the vehicles by December 2021 or January next

The company did not disclose other details, including where the facility will come up and when that will happen

The money will be used to fund TII's organic and inorganic growth, including acquisition of CG Power and Industrial Solutions and TII's proposed capex

Initially, TII invested around Rs 700 crore to acquire 51% stake in the scam-hit CG Power and Industrial Solutions

TII's consolidated revenue for the quarter was Rs 1,193 crore as against Rs 1,247 crore in the corresponding quarter of the previous year

The firm has already committed Rs 700 crore to CG Power

A stronger partner will help business growth; further gains for the stock hinges on pricing and deal completion