Shares of Tips Industries (TIL) were locked in 5 per cent upper circuit at Rs 988.65, also its new high, on the BSE on Thursday.
The stock of one of India’s largest entertainment company having presence (along with its subsidiaries) in music film production film distribution and artist management has zoomed 100 per cent in the past 18 trading days from the level of Rs 494.80, on April 23. The company is engaged in the production and distribution of films and leveraging its audio content library digitally in India and overseas. The company is also a leading producer of Punjabi films in the country.
The counter has seen huge trading volumes with 100,000 equity shares changing hands on the BSE till 11:53 am, against an average sub 8,000 shares were traded daily in past two weeks, data shows. A combined around 150,000 equity shares changed hands on the NSE and BSE and there were pending buy order for about 7,000 shares on both the exchanges.
On May 10, 2021, TIL’s board approved and announced demerger of TIL in two separate entity Tips Industries Limited and Tips Films Limited.
