Eros in limelight after signing pact with Turkish film company

Eros International Media gained 4.67% to Rs 254.20 at 14:35 IST on BSE after the company announced signing two-film co-production deals with leading Turkish film company Pana Film.

The announcement was made during market hours today, 19 June 2017.

Meanwhile, the S&P BSE Sensex was up 303.53 points or 0.98% at 31,359.93. The S&P BSE Small-Cap was up 13.17 points or 0.08% at 15,680.41.

On the BSE, 2.15 lakh shares were traded on the counter so far as against the average daily volumes of 2.75 lakh shares in the past one quarter. The stock had hit a high of Rs 257.30 and a low of Rs 243.55 so far during the day.

The stock had hit a 52-week high of Rs 308.40 on 28 March 2017 and a 52-week low of Rs 150.15 on 22 November 2016.

The stock had outperformed the market over the past one month till 16 June 2017, gaining 1.93% compared with 1.55% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 10.81% as against Sensex's 4.97% gains. The scrip had also outperformed the market in past one year, jumping 17.21% as against Sensex's 17.08% gains.

The small-cap company has equity capital of Rs 94.43 crore. Face value per share is Rs 10.

Eros International Media announced two Indo-Turkish co-productions with one of the largest Turkish film studios, Pana Films, owned by leading Turkish actor Necati Sasmaz.

With proposed A list actors from India and Turkey, including Necati Sasmaz himself, both films will be collaborative with shoot venues and crews in both countries and will be made bilingual. Original stories blending Indian and Turkish cultures will be conceptualized and developed by Eros' in house writers along with top Turkish writers.

Eros International Media's consolidated net profit fell 37.8% to Rs 31.67 crore on 33.1% fall in net sales to Rs 180.62 crore in Q4 March 2017 over Q4 March 2016.

Eros International Media operates in the Indian film entertainment industry. It acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media.

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