617 per cent return; this multibagger company makes striking move into small commercial EV segment: do you own it?
Over the last five years, the company has generated a good profit growth of 41.2 per cent CAGR.
TI Clean Mobility (TICMPL), a subsidiary of Tube Investments of India (TII), announces strategic partnership with Jayem Automotives, acquiring 50 per cent stake to enhance R&D and expedite production capabilities for upcoming electric vehicle (EV) launch.
In a statement to the exchanges, the company disclosed that the acquisition involves purchasing equity shares from the promoters and existing shareholders of Jayem, along with subscribing to fresh equity shares, for a total amount of up to Rs 206 Crore.
Jayem specializes in automotive research and development, encompassing the comprehensive spectrum of activities from design and testing to the production of automotive components, systems, and prototypes.
Tube has announced the establishment of a subsidiary focused on commercializing small electric vehicles (EVs). Through an agreement with J Anand, the managing director of Jayem Automotives, the new entity will be owned 80 per cent by Tube and 20 per cent by J Anand.
Tube Investments of India Limited (TII) is one of India's top manufacturers of a diverse range of products for various industries such as automotive, railway, construction, mining, agriculture, and so on. Engineering, Metal Formed Products, and Bicycles are the three primary business segments of the company. In keeping with its growth plans, the Company has entered the TMT bars and Truck Body Building market, and is also looking into potential in optic lenses and other vision systems for the automotive industry.
On Tuesday, the shares of Tube Investments of India Limited (TII) plunged 0.29 per cent, the intraday high and low are Rs 3220.05 per share and Rs 3161.50 per share, respectively on BSE.
Over the last five years, the company has generated a good profit growth of 41.2 per cent CAGR.
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The company has delivered impressive returns of over 82 per cent in just one year, showcasing its strong performance. Furthermore, it has achieved remarkable multibagger returns of 617 per cent over the past three years, reflecting its exceptional growth potential and investor value. Investors to keep close eye on this trending stock.