Shares of Eros International Media surged over 7 per cent on Tuesday after the company on Monday announced that it has successfully completed the first schedule of its Telugu production with Natasimha Balakrishna’s ‘Dictator’ in Hyderabad.
Produced by Eros International in association with Vedaashwa Creations, the film is directed by Sriwass whose last release Loukyam was a blockbuster hit.
The share price of Eros International closed 7.10 per cent higher at Rs 473.35 on BSE. It opened at Rs 450 and touched a high and low of Rs 496.25 and Rs 433, respectively. The 30- share Sensex gained 1.13 per cent at 26,032.38.
On the NSE, the scrip jumped 6.60 per cent at Rs 473.
‘Dictator’ marks Balakrishna’s 99th film. This upcoming action entertainer also stars popular actresses Anjali and Sonal Chauhan along with Ravi Kishan, Sayaji Shinde, Nazar, Prudhvi etc. With this feature, the studio continues to make active inroads into the south Indian industry with feature productions in Tamil and Malayalam languages as well.
Eros International Media is a part of the Eros Group, which has an extensive film library and is in the business of sourcing Indian and other film content and exploiting it worldwide through its offices in India, UK, USA, UAE, Singapore, Australia, the Isle of Man and Fiji across formats such as theatres, home entertainment, television and digital new media.
Last one week high and low of the scrip stood at Rs 565.00 and Rs 425 respectively. The current market cap of the company is Rs 4257.15 crore.
The promoters holding in the company stood at 74.37 per cent while institutions and non-institutions held 20.66 per cent and 4.97 per cent respectively.
A total of 32,000 shares exchanged hands on the BSE so far, compared with a 2-week average of 73000 shares.