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Cubex Tubings, a manufacturer of copper and copper alloy products, has recorded one of its best sustained winning streaks in recent times, as shares managed to defy the broader market weakness and continued to hit the upper circuit, signalling growing confidence among investors over the company's growth prospects.
The small-cap stock, which has a market capitalisation of ₹210 crore, was locked in another 10% upper circuit limit in Friday's session to hit a fresh all-time high of ₹152.24. This marks the fourth straight day of the stock reaching the maximum limit set for the counter.
On September 22 and September 23, the stock had reached the 20% limit, and the exchange later appeared to have brought down the limit to 10%, but the stock continued its winning run.
For context, when a stock repeatedly hits its upper circuit limit, it indicates strong buying interest, with buyers consistently placing orders on the exchanges amid limited selling activity.
The four-day uninterrupted bull run has led the stock to gain 74% and turned its weekly returns to 78.43%, marking its best weekly performance since November 2020. The rally came at a much-needed time after it witnessed a severe sell-off between May and August, falling below the ₹74 levels.
However, it recovered all of its four-month losses in a week, indicating the stock's ability to rebound from the lows, and this is not the first instance where the stock experienced this kind of journey.
In early 2023, after facing losses for the first three months at the start of the year, it rebounded 52% in just April and launched a bull wave, which continued up until April 2024, rising to ₹194 levels.
Looking at the broader performance, the stock delivered massive returns of 219% over the last three years and 606% gains over the last five years. Those gains have largely benefited retail investors, who held a 55% stake in the company at the end of the June quarter, as per Trendlyne data.
The rally began after the company approved the proposal for raising funds of ₹135 crore (Rupees One Hundred Thirty-Five Crores only) through the issuance of debt securities and/or other securities, including securities convertible into or exchangeable for equity shares of the Company at a future date, in one or more tranches, subject to necessary approvals and applicable laws.
The board approved the proposal on September 17, and the company has scheduled an EGM for October 28 to seek shareholders' approval for the proposed fundraising.
"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," the company said in its September 17 regulatory filing.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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