Two more stocks make it to the Premium portfolio.
First, Tube Investments gets its way in, with a 50% position.
This Murugappa group company makes auto products like welded tubes, dummy axles etc. It also owns TI Cycles, and till recently a large stake in Chola Insurance (which it sold partly for 882 cr.).
The money from the stake sale was used to buy back some debt that it had. It has also started a new plant in Punjab, that can make 2.5 lakh cycles per day. The P/E is about 20, and . . .