Tips Music falls 5% as stock trades ex-dividend date today; details

Shares of media and entertainment company Tips Music fell 5.33 per cent to today's low of Rs 595.80 apiece on the National Stock Exchange (NSE) during intra-day deals on Tuesday, January 28, 2025. The fall in the company's share price aligns with its announcement of dividend rewards for its shareholders, as the company's shares turned ex-dividend today.

 

Notably, Tips Music, in an exchange filing, informed the bourses that its Board of Directors declared a third interim dividend for the financial year 2024-2025 of Rs 3 per equity share (i.e., 300 per cent) on the fully paid-up equity shares of the face value of Re 1 per share. The record date to determine the eligibility of shareholders' participation towards the payment of Interim Dividend is also today, January 28.

 

The Interim Dividend, the company said, will be paid on or before February 18, 2025.

 

As per the data available on the NSE, the company has previously paid interim dividends of Rs 2 per share on two different occasions in FY2024-25. At the current market price, the company's dividend yield stands at 1.14 per cent.

 

Tips Music is a media and entertainment company engaged in film production, distribution, and music content. The company produces and distributes films and leverages its audio content library digitally in India and overseas. Tips Music has diversified its business over the years, from trading and manufacturing to film production and music distribution.

 

Tips Music has a market capitalisation of Rs 7,767.69 crore on the NSE, as of January 28, 2025. The company is a constituent of the Nifty Media Index.

 

The company's shares scaled their 52-week high of Rs 950, which is also their all-time high, on November 6, 2024. Their 52-week low was recorded at Rs 345.50 on June 4, 2024.

 

Historically, Tips Music shares have shown mixed performance, offering nearly flat returns in the last six months but yielding 38 per cent in the last one year.

 

At around 12:09 PM on Tuesday, Tips Music shares were quoted at Rs 617.30, down 1.45 per cent from their previous close of Rs 629.40 on the NSE. A combined total of nearly 0.26 million equity shares of Tips Music had exchanged hands on the BSE and NSE, valued at approximately Rs 16.17 crore as of the time of writing.

 

Meanwhile, the benchmark equity indices were trading higher on Tuesday. The NSE Nifty50 was quoted at 23,031.70, up 0.89 per cent, while the 30-share Sensex was up 805.64 points at 76,171.81.