India's Tube Investments hits record on upbeat engineering business view

Cholamandalam Financial Holdings

22/06/2023 07:41

** Shares of engineering and manufacturing company Tube
Investments of India  TBEI.NS  up 2%, hitting a record high 
    ** Stock on track for a third consecutive session of gains 
    ** Management expects EV-related businesses to get into
commercialization phase in FY24, Motilal Oswal analysts say  
    ** Brokerage expects engineering business to grow in double
digits over next 2-3 years
    ** Keeps "buy" with PT of 3,560 rupees
    ** Of the 5 analysts tracking TBEI, 3 have "buy" or higher
rating, one "strong sell" and one "hold;" median TP is 2,987
rupees - Refinitiv data


 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))