Multibagger stock to foray into film production business; Share hits upper circuit

GI Engineering Solutions share price were locked at 5% upper circuit at ₹12.46 apiece on the BSE on Wednesday after the company announced its foray into film production and allied services

GI Engineering Solutions has ventured into the business of film production, distribution and allied services, in addition to the existing businesses. 

“Many renowned and established names are joining GI Engineering Solutions Limited as board members including Mohaan Nadaar and Ketki Pandit. Smita Thackeray will join as the chairperson of the Advisory Board of the company for mentoring our team with her wide experience,” GI Engineering Solutions said in a release.

The company has also announced the signing of the first project under its new division, with well-known director and writer Farhad Samji for the sequel of the iconic film 'Haseena Maan Jayegi', titled as 'Haseena Maan Jayegi 2’, which will be produced by the company.

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GI Engineering is conventionally an Engineering Design Company Specializing in Civil Engineering Activities and Ancillary Services. 

The Company will also carry on the business of developing, producing, distribution, marketing and financing of all kinds commercial feature films, content Production, animation, graphics, CGI movies, AI powered features films, making of OTT films, cine films, talkie films, telefilms, advertising films, documentaries, animation, TV Serials, music production, music composition, recording studio, advertisers and other allied & related activities in India and abroad, it said.

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Further, GI Engineering Solutions has initiated the process of change of name of the company to “Teamo Productions HQ Limited” to reflect the business activities more appropriately in sync as per the contemporary business environment and to enhance its brand equity, it added.

GI Engineering is a multibagger stock with the shares rallying more than 128% YTD. GI Engineering share price have jumped nearly 140% in the last one year.

At 12:50 pm, GI Engineering share price was trading 4.04% higher at ₹12.35 apiece on the BSE.

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