Tube Investments Faces First Negative Year Since Demerger

• Tube Investments of India Ltd. stock is down nearly 30% in 2025 YTD, marking its first negative calendar year since the 2017 demerger.
• The Murugappa Group entity previously delivered positive, double-digit returns annually from 2018 to 2023, with 2024 showing 1% return.
• The 2017 demerger involved a "name swap," separating manufacturing (now Tube Investments) from financial services (Cholamandalam Financial Holdings).
• Analysts maintain positive outlooks: four "buy" ratings, one "hold," with a consensus price target suggesting 41.4% upside.
• Despite the recent dip of 31% from its 52-week high, the stock has provided nearly 10x returns to shareholders since 2018.

Why It Matters: Tube Investments sees its first annual decline post-demerger, but analysts remain optimistic about future growth.