Tips Industries announces buyback plan at Rs 2,600 per share

Tips Industries announces buyback plan at Rs 2,600 per share

Indian Market
by 5paisa Research Team Last Updated: 2022-12-28T18:31:14+05:30

Shares of Tips Industries gained about 30 per cent in last 6 months. 

Today, Tips Industries informed via exchange filling about the share buyback plan. On November 9, 2022 the board of Tips Industries approved the share buyback proposal. On Monday, December 19, 2022 shareholders of the company approved the share buyback proposal via postal ballot.  

The company, on December 21 announced about the buyback plan. The company has kept the record date on Friday, December 30, 2022. 

The buyback will be on proportionate basis through Tender offer. 

The company will buyback 1,26,000 shares of face value 10 which represents 0.97 of the total number of issued and paid-up equity shares of the company. The buyback size is about Rs 32.76 crore which represents about 24.59 per cent of the aggregate fully paid-up equity shares. 

Tips Industries, established in 1988, is one of the large corporate houses in the field of music, with a collection of over 29,000 songs across all genres and major languages (Hindi, Punjabi, Marathi, Bhojpuri). The Company has an extensive catalogue of film, non-film, devotional, pop, remixes. 

Today, the stock opened at Rs 1889.90, with a high and low of Rs 1889.90 and Rs 1836.00. The stock closed trading today at Rs 1843.60, down by 1.37%. 

In the last six months, the shares of the company have given about 30 % returns and on YTD basis, the stock has declined more than 1.5%. 

The stock has a 52-week high of Rs 2397.57 and a 52-week low of Rs 1273.95. The company has a ROCE of 86.5% and an ROE of 63%, with a market capitalisation of Rs 2390.90 crore. 


Start Investing in 5 mins*

Get Benefits worth 2100* | Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial. Also, The

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number