The share price of the leading Company in the Media & Entertainment Industry gained 1.5% to a 52-week high price of ₹437 apiece on Tuesday after the Domestic Institutional Investor bought a stake in the company.
At 11:55 a.m., Tips Industries Ltd shares were quoting at ₹433.80 per share, up 0.70 percent from the previous close price on the exchange. The company has a market capitalization of ₹5,535 crore.
As per BSE Bulk deal data, On 29th January 2024, Domestic Institutional Investor, SBI Mutual Fund bought 64,25,721 equity shares, which is equivalent to 5 percent of paid-up equity, in the Tips Industries via open market transactions, at an average price of ₹ 380 per share, valued at ₹ 244.17 crores.
Although, Company promoters, including Renu Kumar Taurani, Ramesh Sadhuram Taurani, Varsha Ramesh Taurani, and Kumar Sadhuram Taurani, sold 65 lakh equity shares, which is equivalent to 5.06 percent of paid-up equity in Tips, at around the same price, amounting to ₹247.06 crores.
Tips Industries Ltd’s net profit has increased by 74% year on year, from ₹20 crores in Q3FY23 to ₹34.7 crores in Q3FY24. During the same time frame, revenue jumped by 27% from ₹51 crores to ₹64.8 crore.
Tips Industries Ltd shares have gained 49 percent in the last six months and a multibagger return of 172 percent in a year. For example, a shareholder investment of ₹1 lakh in the company a year ago, would be worth ₹2.72 lakhs.
Tips Industries Limited is engaged in the business of Production and Distribution of Motion Pictures and the acquisition and exploitation of Music Rights. The co is also a leading producer of Punjabi films in the country.
The company earns 100% of its revenue from License fees. 75% of the revenue is from digital platforms, wherein 45-50% is through YouTube, and the remaining 25-30% is through other digital platforms. The remaining 25% is generated through TV and public performances.
In FY23, The company received 27% revenue from Domestic clients while 73% revenue from international clients. The company distributes its products in South Africa, Israel, and Malaysia.
According to the recent shareholding pattern, the company promoters hold 68.92 percent of the company, Total institutional investors hold 1.76 percent of the company and retail investors hold a 29.32 percent stake.
Written by Omkar Chitnis
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