New Delhi. In Tuesday’s intra-day trade in the stock market, the stock of film production and distribution company Tips Films saw a rise and its shares were seen in the upper circuit. Let us tell you that the shares of Tips Films reached Rs 630 in the upper circuit of 10%. In comparison, the S&P BSE Sensex was down 0.37 per cent at 59,607 points. In the last eight trading sessions, the stock of the film manufacturing, distributor and exhibition company jumped 108 per cent from the Rs 303.20 it touched on October 13.
BSE now sought clarification on this
BSE on Tuesday sought clarification from Tips Films Ltd in view of significant volatility in prices to ensure that investors have fresh information about the company and to inform the market so that investors interests can be protected. As per the arrangement between Tips Industries (Demerger Company) and Tips Films (Resulting Company) and the plans for demerger, the shares of Tips Films are listed on 6th October, 2022. Due to which the shares of the company have reached the upper circuit. After the stock hit the upper circuit, the company said in its statement that globally India is the second largest consumer of digital services after China. Video subscriptions jumped 29 percent in 2021. Paid subscriptions also crossed 80 million and the revenue stood at Rs 5,600 crore.
On the other hand, OTT players are expected to spend Rs 300 billion on content in 2021-25. Meanwhile, Netflix, Disney and Amazon are expected to spend $66.6 billion on content, an increase of 18.2 percent. Along with this, the company’s management said, “The company will write off 100 percent of the cost of the film within 12 months of its release. The first 60 per cent was put into write-off in the first year and the rest in the nine years.” Significantly, on the occasion of Diwali, tremendous ups and downs have been seen in the stock market.