Moser Baer climbs 5% on UTV deal

MUMBAI: Moser Baer shares gained more than 5 per cent Wednesday after the company acquired exclusive home video licence for UTV Motion Pictures' 25 films for the next five years in a deal worth Rs 25 crore.

This gives Moser Baer domestic rights to UTV's home video catalogue which comprises of 10 films. Moser Baer Entertainment will also get home video rights to all UTV productions released until mid 2009.

The acquisition gives Moser Baer Entertainment access to premium content from UTV. The company plans to release 15 new films over the next six months. Six of them are being released in December and January.

At 10:40 am, the stock eased some gains and was trading at Rs 74.10, up 2.77 per cent.