Tips Industries witnessed a substantial surge of almost 6% to reach a 52-week high of Rs 433.45 in the early trade on January 29, driven by a notable Rs 248-crore deal on the counter.
In this transaction, approximately 65 lakh shares, representing a 5.1% equity, changed hands at a floor price of Rs 380 per share. The floor price reflects a 7.5% discount from the previous closing price.
As of 12:24 pm, Tips Industries’ shares continued to trade 5.75% higher at ₹432.05. The immediate identification of the buyers and sellers involved in the transaction was not available.
Tips Industries reported a remarkable 72% year-on-year increase in net profit, reaching Rs 34.7 crore in the December quarter. Additionally, the revenue surged by 27%, totaling Rs 64.8 crore, indicating a robust financial performance for the company. The positive market response further attests to the confidence in Tips Industries’ growth trajectory.
