1 hr ago
Cubex Tubings Surges 74% After ₹135-Crore Fundraising Proposal
Cubex Tubings makes copper and copper-alloy products.
Its share price rose sharply for four days in a row.
On Friday, the share reached ₹152.24 after rising by 10%.
Earlier in the week, it had reached a 20% daily limit before the limit appeared to be reduced to 10%.
Overall, the stock rose 74% during the four-day run.
The company had recently proposed raising ₹135 crore through securities.
Investors will vote on this plan at a meeting on October 28.
The stock had previously fallen below ₹74 between May and August, but it recovered those losses in one week.
Cubex Tubings shares hit a 10% upper circuit at ₹152.24 on Friday, marking a fourth consecutive session at the maximum limit.
The stock gained 74% during the four-day streak and posted weekly returns of 78.43%.
The rally followed the board’s September 17 approval of a ₹135-crore fundraising proposal involving debt or other securities.
Shareholders are scheduled to consider the fundraising plan at an Extraordinary General Meeting on October 28.
Retail investors held 55% of the company at the end of the June quarter, according to Trendlyne data.
- Who
- Cubex Tubings and its investors, including retail shareholders.
- What
- Cubex Tubings shares rose 74% over four sessions while repeatedly hitting the upper circuit.
- Where
- On the stock exchange.
- When
- The four-day streak occurred through Friday; the fundraising proposal was approved on September 17, with shareholder approval scheduled for October 28.
- Why
- Buying interest increased after the company proposed raising ₹135 crore through debt securities and/or other securities, subject to approvals and applicable laws.
Key facts
- Company
- Cubex Tubings manufactures copper and copper-alloy products.
- Market capitalisation
- Approximately ₹210 crore.
- Friday close or high
- ₹152.24 after a 10% upper circuit.
- Four-day gain
- 74%.
- Weekly return
- 78.43%, the company’s best weekly performance since November 2020.
- Fundraising proposal
- ₹135 crore through debt securities and/or other securities, including potentially convertible or exchangeable securities.
- Shareholder meeting
- Extraordinary General Meeting scheduled for October 28.
- Retail ownership
- 55% at the end of the June quarter, according to Trendlyne data.
Quotes
Cubex Tubings
The copper and copper-alloy products manufacturer, in a September 17 regulatory filing
“Approved the convening of an Extraordinary General Meeting (EGM) of the members of the Company on 28-10-2026 to seek shareholders’ approval for the proposed fund-raising,”
livemint.com
Sources
Related news
Cupid Shares Rise After Promoter Buys 41 Lakh Shares
Tuni Textile Mills Hits Upper Circuit After Multiple Orders
Saatvik Green Energy Hits Upper Circuit After ₹1,042 Crore Order
Raymond Shares Surge 7% on Fundraising and Defence Triggers
Spice Lounge Food Works Stock Hits Upper Circuit Amid Crash
