Tube Investments of India Ltd. – Fairness Analysis DeskInsights

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Tube Investments of India Ltd. – Murugappa Group

Tube Investments of India Ltd (TIINDIA) is a flagship Firm of the famend Murugappa Group, India’s main enterprise conglomerate. Established in 1900, with its Headquarters in Chennai, the Group has 29 companies, with ten listed firms traded in NSE & BSE.

TIINDIA is considered one of India’s main producers of a variety of precision-engineered and metal-formed merchandise for main industries corresponding to Automotive, Railway, Development, Mining, Agriculture, and so forth. The Firm can be a number one producer of bicycles in India, with a spread of iconic manufacturers and a robust market presence.

Valuation:

TIINDIA provides a strong progress story pushed by: a) affordable progress within the core enterprise and b) leveraging sturdy cashflows of the core enterprise (TI-1) to systematically incubate future progress platforms (TI-2) and opportunistic acquisition of harassed belongings (TI-3) at engaging costs. Therefore, we suggest a BUY score within the inventory with a goal worth (TP) of Rs.3230, 50x FY24E EPS.

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