Stock market news: Teamo Productions shares gain after news project announcement, stock split
Teamo Productions HQ Ltd was previously known as GI Engineering Ltd. The board of Teamo Production had previously announced the share split in the ratio of 1:10.
Stock market news: Shares of Teamo Productions HQ rose today after the board approved a new project. The board had previously approved a split. The stock was trading at Rs 11.35 on the NSE with a gain of over 3 per cent after the company informed through a regulatory filing that the shooting of the Vrindavan film had started.
The film’s cast includes Avika Gor, Namit Das and Zarina Wahab. Ketki Bhavin Mehta, full-time director and chief operating officer, said it is not just a film project but a spiritual journey.
Vrindavan, a small town in Uttar Pradesh, is home to nearly 20,000 widows and that forms the backdrop for the upcoming film.
Teamo Productions HQ Ltd was previously known as GI Engineering Ltd. The board of Teamo Production had previously announced the share split in the ratio of 1:10.
It means that each share of face value of Rs 10 each will be split into 10 shares of face value Re 1 each on the record date.
However, the proposal must be approved by shareholders and other regulatory authorities if necessary.
“The proposal for subdivision/splitting of the 1 (one) equity shares and preference shares of the company having face value of Rs. 10/- each into 10 (ten) equity shares and preference shares respectively of the company of face value of Re. 1 each, subject to shareholder approval and other approvals as may be necessary,” the company said in a stock exchange filing.
“In this regard, the record date for such demerger/demerger will be communicated to the stock exchanges in due course,” the report said.