Eros International ends 11% lower after company clarifies on Fullerton stake sale

NEW DELHI: Eros International Ltd witnessed high volatility in trade today as the stock swung 31 per cent, erasing all gains it made in the morning trade. The stock fell 20 per cent, hitting the lower circuit in intraday trade after it gained 11 per cent in the opening session. The swing came after the company clarified that Fullerton stake sale does not pertain to the parent company.
The stock finally ended the day 11.46 per cent lower at Rs 476.05.
Media had earlier reported that the said deal, if completed, would value Eros Now at as much as $800 million. That is much higher than where the market values the business now.

Eros Now is Eros International's streaming platform, which has about 19 million subscribers, mostly in India.