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The buyback offer will help unlock value and return surplus cash to its shareholders, the music label has said
After having a partnership for more than three years — which allowed the New York-based firm to exclusively distribute Tips Music's over 13,000 Hindi catalogues since 2020 — decided to expand it further, according to a joint statement.
The Nifty gained almost 2 percent in the previous week and has generated a fresh buy signal on RMI
Promoters in Tips Industries collectively sold 5.06 percent stake of the company
Around 5.1 percent equity changed hands. Moneycontrol could not immediately identify the buyers and sellers involved in the transaction
This partnership will boost publishing revenues for Tips Music and take Indian music to international shores, a company statement said.
In the current fall, from an investor's point of view, this is certainly an excellent opportunity to bag quality stocks in a staggered manner but for traders, it will be difficult to say that worse is behind, says Sameet Chavan of Angel One
