Tips Industries Ltd experienced 1.5% surge in its shares following SBI Mutual Fund's purchase of 64.5 lakh equity shares, equivalent to 5% of the company's paid-up equity, through open market transactions. Transactions occurred at an average price of ₹380 apiece, valued at ₹244.17 crores. The increase came after the company's prominent promoters divested 5.06% of their stake.