Shares of TIPS Industries climbed up over 7% on Monday as the company announced the record date for the stock split.
What Happened: In a regulatory filing, the production house said that the company’s board has fixed the record date on April 21 for the stock spilt. The company’s shareholders had last week approved the 1:10 stock split. This means that everyone who is holding one Tips Industries share at the end of trading on April 21 will receive 10 shares of the company.
The company has over the last three decades produced several popular music videos and films. The company recently released ‘Gaslight’ on Disney+Hotstar starring Vikrant Massey, Sara Ali Khan, and Chitrangada Singh.
The stock which remained subdued for the better part of the last two decades saw shares surge late in 2020. In April 2021, the stock closed at ₹446.50 and is currently priced over ₹1500 levels- over 263.78% surge. However, the company’s stock has been struggling recently as it has fallen over 10% since the year started.
Price Action: Tips Industries share price was up 7.82% to trade at ₹1,559.55 in the late hours of trading on Monday.
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