On day of Bajrangi Bhaijaan release, Eros International shares rally

NEW DELHI: Shares of Eros International Media rallied as much 5.42 per cent in intraday trade on Friday. The motion picture production company's much-awaited Salman Khan movie Bajrangi Bhaijaan hit screens today.

The stock ended the day at Rs 629.85, up 4.20 per cent or Rs 25.40.

The film directed by Kabir Khan had run into troubles when the Bombay Sessions Court on May 6 sentenced Salman Khan to 5 year in jail in the 12-year old hit-and-run case, putting the company's Eid release in jeopardy.

The company entered online entertainment platform yesterday by launching ErosNow and announced to invest $25 million this year to tap into the fast growing digital content segment.

ErosNow has garnered over 19 million registered users in its pre-launch phase, Eros digital chief executive Rishika Lulla Singh said. Recently Eros acquired a mobile value added services company called Techzone which is into billing integration of mobile networks.

The media company has had a stellar year giving back to back hits like Tanu Weds Manu Returns, Badlapur and NH10. John Abraham starrer Welcome Back, Ajay Devgn's Shivaay, Ranveer-Deepika's Bajirao Mastani and Amitabh Bachchan's Sarkaar 3 are some of the movies scheduled to be released in the next one year.