3rd Interim Dividend of Rs 3: Tips Music Sets Record Date; A Melodic Investment?

Established in 1988 by Mr. Ramesh Taurani and Mr. Kumar Taurani, TIPS Music is a publicly traded music company in India. With a vast collection of over 30,000 "THE MUST HAVE HITS" songs, the firm is regarded as a leading music producer in India's major languages and musical genres. Following the announcement of the company's third interim dividend of Rs 3 for the fiscal year 2024-2025, Tips Music's shares started higher on the NSE on Thursday at Rs 645.90 per share with a market capitalisation of Rs 8.25KCr.

Tips Music Dividend

The Board of Directors "Declared a third interim dividend for the financial year 2024-2025 of Rs. 3/- per equity share (i.e. 300%) on the fully paid-up equity shares of the face value of Re. 1/- per share. Fixed January 28, 2025, as the Record Date towards payment of third Interim Dividend. The Interim Dividend will be paid on or before February 18, 2025," said Tips Music in a stock exchange filing.

Tips Music Q3 Financial Results

For the October-December 2024 period, the firm reported a 27% rise in profits, reaching Rs 44.2 crore, up from Rs 34.7 crore in the same quarter the previous year. A notable 20% year-on-year growth was also observed in the company's revenue from operations, which jumped to Rs 77.7 crore in Q3 FY25 from Rs 64.8 Cr in Q3 FY24. The company's EBITDA climbed 28% year on year to Rs 55.6 Cr in the quarter under review from Rs 43.4 Cr in the year-ago quarter.

Tips Music Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "TIPSMUSIC is currently trading at Rs 644, continuing its short-term downtrend amid persistent selling pressure over the past few weeks. The price has broken below critical support levels, with recent bearish momentum indicating limited chances of an immediate recovery. The key support for the stock is at Rs 630, and a breach of this level could lead to further downside toward Rs 600. Resistance levels are observed at Rs 680 and Rs 700, which are crucial for any potential rebound or trend reversal."

"The Relative Strength Index (RSI) is currently at 29.80, suggesting the stock is in the oversold zone. While this indicates the possibility of short-term stabilization or a minor bounce, the broader bearish trend remains dominant. Additionally, the stock is trading well below its major Exponential Moving Averages (20, 50, 100, and 200-day EMA), which reflects a sustained bearish configuration," the analyst said.

"For a potential trend reversal, TIPSMUSIC would need to reclaim levels above its 200-day EMA, supported by a notable increase in trading volume. Until the stock decisively breaks and sustains above the Rs 670 resistance level, the overall outlook remains negative, and the broader trend is expected to stay bearish," Mandar Bhojane commented.

Disclaimer

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