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Eros International Media has surged 8% to Rs 246 after the company said its on-demand entertainment portal ErosNow has acquired the worldwide rights of popular Zee TV shows.
The stock opened at Rs 235 and hit a 52-week high of Rs 250 on National Stock Exchange (NSE). The trading volumes on the counter surge more than three-fold with a combined 526,000 shares changed hands in first half-an-hour of trading on NSE and BSE.
ErosNow subscribers to have online streaming access to popular soaps, serials and reality shows at no additional cost.
“This partnership allows ErosNow to showcase Zee’s premier television content ranging from top rated serials and soaps to reality shows,” Eros International Media said in a statement.
The stock opened at Rs 235 and hit a 52-week high of Rs 250 on National Stock Exchange (NSE). The trading volumes on the counter surge more than three-fold with a combined 526,000 shares changed hands in first half-an-hour of trading on NSE and BSE.
ErosNow subscribers to have online streaming access to popular soaps, serials and reality shows at no additional cost.
“This partnership allows ErosNow to showcase Zee’s premier television content ranging from top rated serials and soaps to reality shows,” Eros International Media said in a statement.
Meanwhile, UBS reiterates ‘buy’ on the stock and raised target price by 22% to Rs 310, the Bloomberg report suggests.
