Tue Dec 10 11:08:40 UTC 2024: **Stock Prices Surge on Bonus Issue Announcements**
**Mumbai, India (December 12, 2024)** – Shares of Indraprastha Gas Limited (IGL) and Thinkink Picturez Ltd. experienced significant gains following announcements of upcoming board meetings to consider bonus share issuances.
IGL, a city gas distributor, saw its stock price rise over 2%, reaching an intraday high of ₹394.3 on the NSE. The company’s board is scheduled to meet to consider a bonus share proposal, which, if approved, would make IGL the first city gas distributor to issue bonus shares. This follows a reported 18% year-on-year decline in net profit in the September quarter but also includes a declared interim dividend of ₹5.50 per share.
Meanwhile, small-cap company Thinkink Picturez Ltd. saw its stock price locked in a 5% upper circuit at ₹2.03 apiece on the BSE. This marks the third consecutive day of gains, with a cumulative increase of almost 15% over this period. The company’s board meeting, scheduled for December 16th, will consider a proposal for a 2:1 bonus share issue and a 100% dividend. In addition to the bonus issue and dividend, Thinkink Picturez announced the launch of its OTT platform, ThinkStream, and significant investments in its Dubai-based subsidiary, Think Star Entertainment Technology Llc, for multiple film and web series productions and post-production services. These investments total approximately ₹279 crore (approximately AED 121 million).
The strong market reaction reflects investor enthusiasm for these bonus share proposals and the overall positive developments announced by both companies. However, investors are reminded that investment in the securities market is subject to market risks.
First Piper 