Eros International shares surge over 7% on bourses

Shares of Eros International Media surged over 7 per cent today amid reports that its parent firm Eros International PLC is looking to list in the country.
The stock soared 7.18 per cent to settle at Rs 570.60 on the BSE. During the day, it gained 11.57 per cent to Rs 594.
On NSE, shares of the company jumped 6.7 per cent to Rs 567.90 at close.
The company added Rs 405.3 crore in its market valuation to take it to Rs 5,332.30 crore.
"Shares of Eros International were in limelight on market reports that its parent company Eros International PLC is planning to list its stock on Indian bourses via Indian Depository Receipts," said Achin Goel, Head Wealth Management & Financial Planning, Bonanza Portfolio.

As per media reports, the company said its parent firm is planning for India listing via Indian depository (IDR) structure.
Meanwhile, Eros International Media on Friday reported a 48.85 per cent increase in consolidated net profit at Rs 53.35 crore for the first quarter ended June 30, due to higher income.