Announced Wed, 5 Aug · 22:49 IST
Tinna Rubber to invest up to INR 15 Cr in Saudi Arabia subsidiary
TINNARUBR · price
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Price reaction · full curve 14 horizons · vs prior close
-0.7%1-day move
₹1116.00
prior close
₹1131.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-1.7-1.7-1.4-0.5-0.7+0.2+1.3-2.5-0.8-7.5————
Up moveDown movePending
AI summary
Tinna Rubber will invest up to INR 15 Crores in its wholly owned subsidiary Tinna Rubber Arabia Ltd, Saudi Arabia, for business expansion in Saudi Arabia and the Middle East. The subsidiary, incorporated in June 2024, will recycle waste tyres into crumb rubber, steel scrap, and other value-added products. All Saudi Arabia registrations are now complete, and the first tranche of SAR 3,40,000 (about INR 87.31 lakh) for 50 shares has been infused.
Likely market impact
Sets up a new greenfield recycling unit in Saudi Arabia, diversifying revenue and securing cheaper raw material for the parent company.