From mint · A Ksheerasagar · · 1m 10s
Cubex Tubings Shares Hit 5% Upper Circuit for 5th Day
Cubex Tubings shares surge 5% for fifth straight day, aiming for seventh annual gain with no clear fundamental trigger.
In brief
Cubex Tubings shares surge 5% for fifth straight day, aiming for seventh annual gain with no clear fundamental trigger. Cubex Tubings shares rose 5% to a record ₹191.30 on Tuesday, extending a five-session rally that lifted the stock 29% with no new fundamental trigger. Originally reported by mint.
Cubex Tubings Shares Rise 5%
Cubex Tubings shares rose 5% to a record ₹191.30 on Tuesday, extending a five-session rally that lifted the stock 29%.
Fifth Consecutive Trading Session
The five-day rally has resulted in a cumulative gain of 29%, turning the stock’s October returns positive.
No New Fundamental Trigger
No fresh fundamental triggers have emerged to explain the surge, with the company’s latest major update relating to its proposed fund-raising plans.
Proposed Fund-Raising Plan
In its regulatory filing dated October 9, the company said its board would consider raising funds through equity shares and convertible securities.
Subject to Approvals
The proposal would be subject to applicable laws and receipt of necessary approvals, including approval from the company’s members.
Historic September Rally
Cubex Tubings shares surged 121% in September, hitting the 20% upper circuit limit for four consecutive trading sessions.
What to remember
Cubex Tubings shares rose 5% to a record ₹191.30 on Tuesday, extending a five-session rally that lifted the stock 29% with no new fundamental trigger.
