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Business News/ Markets / Stock split may be announced next month by this entertainment stock. Details inside
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Stock split may be announced next month by this entertainment stock. Details inside

Tips Industries shares closed more than 2% higher on the BSE on Wednesday

India is the second-most stock-obsessed country in the world (Photo: iStock)Premium
India is the second-most stock-obsessed country in the world (Photo: iStock)

Tips Industries Ltd's board will meet on Monday, February 13, 2023 to consider and approve the proposal for sub division of the company's equity shares or stock split. Shares of Tips Industries closed more than 2% higher at 1,625 apiece on the BSE on Wednesday.

“..notice is hereby given that meeting of the Board of Directors of the Company is scheduled to be held on Monday, February 13, 2023, inter alia, to consider and approve the proposal for sub-division of the Equity shares of the Company of face value of Rs.10/- (Rupees Ten each) in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required," the company said in an exchange filing on Wednesday.

A stock split increases the number of shares that are outstanding by issuing more shares to the current shareholders. A company engages in stock split decision to make its stock more affordable if its price levels are very high, which in thus would lead to increase in liquidity in the stock. 

We further inform you that, pursuant to provisions of SEBI (Prohibition of Insider Trading) Regulations, 2015 as amended from time to time and Company's code of internal procedures and conduct for regulating, monitoring and reporting of trading by designated persons, the Trading window for dealing in securities of the Company has been closed for all designated persons from January 25, 2023 to February 15, 2023 (both days inclusive) for the aforesaid purpose.

Tips Industries Ltd is a Film Production, Distribution & Entertainment company, which was founded by Kumar S. Taurani & Ramesh S. Taurani in 1975. It is a small-cap company, with a market cap of 2,108 crore on the BSE, that engages in the consumer discretionary industry.

For the quarter ended December 2022 (Q3 FY23), the company's net profit rose marginally to 20 crore as compared to 19.9 crore in the year ago quarter. Its net sales came at 51 crore during Q3, rising over 15% versus 44 crore in the same quarter of the last fiscal.

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Published: 26 Jan 2023, 01:02 PM IST
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