Thirty-30: This large-cap stock has delivered 30 per cent returns in the last 30 days

An optimistic industrial outlook drives the stock price.

Tube Investments of India Ltd is engaged in the auto components and equipment business and has delivered phenomenal returns for its shareholders in the past thirty days. From June 17 to July 8 2022, the scrip has jumped from Rs 1,551.25 to Rs 2,022, making a simple return of about 30 per cent. The huge upside was mainly driven by the robust sectoral outlook.     

Despite the volatility in the markets, the company has performed really well. The auto sector outlook has been gradually improving. The auto index has hit the 8-month high with the anticipation of the Q1 FY23 earnings picture. Be it the financial growth or expansion of margins, it has been a winner. For March 2022 quarter, the revenues jumped by 25 per cent to Rs 3,282.7 crore, while the net profit saw an exceptional leap of 59.55 per cent to Rs 228.11 crore.     

Tube Investments of India Ltd is a flagship company of the renowned Murugappa Group, India’s leading business conglomerate. The company is one of India’s leading manufacturers of a wide range of products for major industries such as automotive, railway, construction, mining, agriculture, etc. The company’s 3 main verticals are engineering, metal-formed products and bicycles. As part of its growth strategies, it is exploring opportunities in TMT bars, Truck Body Building and the business of automotive vision/other vision systems. The scrip has a 52-week high and low of Rs 2,056.95 and Rs 1,064.50, respectively.