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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Its stock has risen 400% in 12 months even as it reported the best ever profit in four decades. What’s changed for India’s third largest music label?
Editor's note: In its over 40 years of existence, music label and film production, promotion and distribution company Tips Industries’s profits have largely remained in single digits. But in 2020-21, the company’s net profit jumped to Rs 59 crore and, in the first six months of the current financial year, it has already made Rs 47 crore. Again, despite being listed for over two decades, Tips has never been valued at more than Rs 200 crore; in fact, as recently as 18 months ago, it was at Rs 112 crore. Today, it is valued at over Rs 2,734 crore, with its shares going from a little over Rs 100 in May 2020 to Rs 2,114 as of 5 January. Those numbers look spectacular considering how few analysts cover Tips and the almost total absence of a big institution among its investors. The company’s stock sees poor trading volumes, averaging just a few thousand shares a day. The market’s darling was always its bigger competitor, Saregama India, which makes four times as much revenue and twice as much profit as Tips. In the …
Its stock has risen 400% in 12 months even as it reported the best ever profit in four decades. What’s changed for India’s third largest music label?
Editor's note: In its over 40 years of existence, music label and film production, promotion and distribution company Tips Industries’s profits have largely remained in single digits. But in 2020-21, the company’s net profit jumped to Rs 59 crore and, in the first six months of the current financial year, it has already made Rs 47 crore. Again, despite being listed for over two decades, Tips has never been valued at more than Rs 200 crore; in fact, as recently as 18 months ago, it was at Rs 112 crore. Today, it is valued at over Rs 2,734 crore, with its shares going from a little over Rs 100 in May 2020 to Rs 2,114 as of 5 January. Those numbers look spectacular considering how few analysts cover Tips and the almost total absence of a big institution among its investors. The company’s stock sees poor trading volumes, averaging just a few thousand shares a day. The market’s darling was always its bigger competitor, Saregama India, which makes four times as much revenue and twice as much profit as Tips. In the …
From getting the most out of an extensive library to drawing up lucrative arrangements for its distribution across platforms, the Kumar Taurani-helmed music company is on a roll.
BookMyShow’s CEO has been summoned by the police over allegations that it indulged in ticket scalping for the upcoming Coldplay concert. Meanwhile, Zomato has announced users can resell tickets on its platform.
The fintech giant and its founder are not new to crises, but the latest debacle dwarfs anything the company has faced in the past. The road to revival will be a tough one.
From getting the most out of an extensive library to drawing up lucrative arrangements for its distribution across platforms, the Kumar Taurani-helmed music company is on a roll.
BookMyShow’s CEO has been summoned by the police over allegations that it indulged in ticket scalping for the upcoming Coldplay concert. Meanwhile, Zomato has announced users can resell tickets on its platform.
The fintech giant and its founder are not new to crises, but the latest debacle dwarfs anything the company has faced in the past. The road to revival will be a tough one.
