Eros International ends 6% higher; company clarifies on stake sale report

NEW DELHI: Shares of Eros International Media Ltd ended the day 6.38 per cent higher at Rs 506.5 on Friday. The stock had surged over 10 per cent in intraday trade.

However, the company clarified that the news does to pertain to Eros International Media Ltd and Eros Now is owned by ultimate parent company viz. Eros International PLC.

In a filing to BSE, the company said, "We would like to clarify that the news reports do not pertain to Eros International Media Limited. “Eros Now" is owned by our ultimate parent company viz. Eros International PLC."

"We continue to evaluate strategic opportunities as part of ongoing business operations and confirm that Eros International Media Limited has neither had any discussions nor signed any agreements for such opportunities (other than already disclosed to the stock exchanges). We will continue to comply with the obligations under the listing agreement," the company added.

The scrip had closed 11 per cent lower in yesterday's trade and had swung 31 per cent intraday.