GI Engineering shares rise 4%; co announces another Bollywood project

Shares of GI Engineering Solutions rose during the trading session Thursday after the company announced to rope in Indian writer, director, and film producer, Shruti Anindita Varma, for their upcoming Bollywood project titled 'Vrindavan', starring Avika Gaur.

Shruti Anindita Varma has directed a number of TV shows including reality shows and daily soaps. She has been associated with BAG Films & Media as creative head. Meanwhile, the company has recently announced multiple Bollywood projects in the one month with Farhad Samji and Kunal Kohli.

Following the announcement of their latest project, shares of GI Engineering jumped about 5 per cent to Rs 12.09 on Thursday. The scrip had settled at 11.58 on Wednesday. The stock has gained about 25 per cent in the last one month, while it has more than doubled in the last six-month period.

In August 2023, GI Engineering Solutions announced the addition of a new business division, which has now been named as 'Teamo Productions HQ' to reflect the business activities more appropriately. Under the new division, the company will venture into the business of film production, distribution and allied services.

In the previous month, the company board had also considered and approved up to 5,00,00,000 fully convertible warrants, carrying a right exercisable by the warrant holder to subscribe to one Equity Share having face value of Rs 10 per warrant, to persons belonging to non-promoter and public category on preferential basis at an issue price of Rs 15 per warrant.

GI Engineering is conventionally an engineering design company specializing in civil engineering activities and ancillary services. It subsequently ventured into a wide range of civil engineering services including land planning, land surveying and landscape architectural services among others.


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