Eros International surges 10% on Zee TV content deal
Eros acquired the worldwide rights on 10 shows from Zee Entertainment
Mumbai: Shares of Eros International Media Ltd rose as much as 10% to their highest since November 2011. Eros acquired the worldwide rights on 10 shows from Zee Entertainment Enterprises Ltd.
Terms of the deal were not disclosed. “The deal is positive for Eros as it adds a significant value to the company’s offerings," said an institutional analyst with a foreign brokerage.
Shares of Eros International were trading up 6.65% at ₹ 242.30 apiece at 11.59am on Wednesday on BSE, while the benchmark Sensex was trading 0.32% lower at 26,334.95.
Zee Entertainment shares rose as much as 1.9% before trading 1.63% higher at ₹ 287.25 apiece at 12pm on Wednesday on BSE, while the benchmark Sensex was trading 0.13% lower at 26,387.52. Reuters
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