Cubex Tubings shares rose 5% to a record ₹191.31 on Tuesday, extending a five-session rally that has lifted the stock 29% cumulatively. According to latest market data, the stock was locked in the 5% upper circuit limit, indicating strong buying interest with buyers consistently placing orders amid limited selling activity. The sustained rally demonstrates continued investor confidence in the small-cap stock, with no fresh fundamental triggers identified to explain the surge. Today's trading session saw the stock fluctuate between ₹185 and ₹191.31, reflecting the continued volatility in the stock price.
The company recently announced plans to consider raising funds through equity or convertible securities, subject to approvals. As reported by LiveMint, in its regulatory filing dated October 9, the company's board of directors would consider and decide on the mode of raising funds through the issuance of equity shares and/or other securities convertible into equity shares, in one or more tranches. The proposed fundraising could be carried out through permissible modes including private placement, preferential issue, or any other method deemed appropriate by the board, subject to applicable laws and necessary approvals.
The latest trading data reveals Cubex Tubings has achieved a return of 89.57% over the past year and 142.67% in the last month alone, demonstrating exceptional momentum in recent sessions. This performance builds on the stock's remarkable September rally when it hit the upper circuit limit for four consecutive trading sessions, taking its gains to 74% before ending September with a remarkable 127% gain. The current rally represents one of the stock's biggest sustained surges since November 2020, with the company's strong fundamentals and growth prospects continuing to attract investor interest.
Cubex Tubings Limited (CTL) was initially incorporated as a Private Limited company on August 10, 1979 with the Registrar of Companies, Andhra Pradesh and was subsequently converted into a Public Limited Company in March, 1992. The company is a manufacturer of seamless solid drawn Tubes, Rods, Bus bars and Wires of copper and copper based alloys such as Cupronickel, admiralty Brass, Aluminum Brass etc. The user industries include Power plants, Power plants manufacturers, Switchgears, Refineries, Furnace manufacturers, Sugar plants, Automobile, Electrical Equipment industries and Ship building Company. In 1993-94, CTL enhanced the capacity of its unit and set up a plant in Pondicherry, both funded by internal accruals, with the new unit commencing commercial production in April 1994.
