Penny Stock Hit 5% Upper Circuit On Newly Added Business Divisions

On Tuesday, the shares of GI Engineering Solutions opened on the BSE higher at Rs 12.23 apiece and clocked an upper circuit limit of 5% at Rs 12.46 level during the morning deals. The rally in the stock price came after the company announced the addition of new business divisions.

In addition to its core activities, the corporation has entered the production, distribution, and related services of films. Along with Mohaan Nadaar and Ketki Pandit, GI Engineering Solutions Limited is adding other well-known and reputable individuals to its board of directors. Ms. Smita Thackeray will join as the chairman of the company's advisory board.

In addition to its core activities, the company has entered fresh areas of film production, distribution, and related businesses. Additionally, the company will continue to develop, produce, distribute, market, and finance commercial feature films of all kinds, as well as content production, animation, graphics, CGI movies, AI-powered features films, making of OTT films, cine films, talkies, telefilms, advertising films, documentaries, animation, TV Serials, music production, music composition, recording studio, advertisers, and other allied & related activities in India and abroad.

The widely awaited sequel to the classic movie "Haseena Maan Jayegi," which will be called "Haseena Maan Jayegi 2," has been signed by the company as the first production under its new division. Housefull 4 (INR 194.60 Cr), Housefull 3 (INR 194.67 Cr), Entertainment (INR 72.02 Cr), Sooryavanshi (INR 294.91 Cr), Singham Returns (INR 219 Cr), and Baaghi 3 (INR 137 Cr) are some of Farhad Samji's most successful films at the box office.

It plans on issuing warrants to raise Rs 75 crore, according to a stock market filing. The company has authorised the issuance of 5 Cr fully convertible warrants to persons in the "Non-Promoter, Public Category" on a preferential basis at an issue price of Rs. 15 per warrant, with the right to subscribe for one equity share having a face value of Rs. 10 per warrant exercisable by the warrant holder.