The share price of Eros International Media closed 3.98 per cent higher at Rs 499.40 on Wednesday.
Eros International Media shares gained nearly 4 per cent on Wednesday after the company announced that it is set to carve a niche in the Malayalam movie market with the release of its debut production, ‘Life of Josutty’.
The share price of Eros International Media closed 3.98 per cent higher at Rs 499.40 on Wednesday. It opened at Rs 488.80 and touched a high and low of Rs 506.80 and Rs 480.30, respectively.
In a BSE filing, the company said, “Co-produced by Eros with Jayalal Menon and Anil Biswas’ Backwater Studios, the film is set for a worldwide release on September 18, 2015. After the company’s significant inroads into Tamil and Telugu cinema, the studio is now gearing to make its mark into the Malayalam market.”
‘Life of Josutty’ is a family drama starring Malayalam superstar Dileep along with Rachana Narayanankutty, Jyothikrishna, Harish Peradi, Sunil Sugatha, Suraj Vengharamoodu and Kelabhavan Mani.
The share price of Eros International Media tanked 17.64 per cent in August while the key benchmark indices BSE Sensex and NSE Nifty declined 6.5 per cent during the month.
For the quarter ended June 2015, the company posted net profit of Rs 63.34 crore, up 76.68 per cent, against Rs 35.85 crore in the corresponding quarter a year ago.