Eros International surges on reports of strengthening footprint in South Indian film industry

Eros International Media surged 4.69% to Rs 504.05 at 14:52 IST on BSE on reports the company is strengthening its footprint in South Indian film industry with 12 films slotted for release in FY 2016.

Meanwhile, the S&P BSE Sensex was up 442.77 points or 1.75% at 25,760.64.

On BSE, so far 37,000 shares were traded in the counter as against average daily volume of 84,923 shares in the past one quarter.

The stock hit a high of Rs 507 and a low of Rs 485 so far during the day. The stock had hit a record high of Rs 644.40 on 20 July 2015. The stock had hit a 52-week low of Rs 234.80 on 15 September 2014.

The stock had underperformed the market over the past one month till 8 September 2015, sliding 15.1% compared with Sensex's 10.34% fall. The scrip had, however, outperformed the market in past one quarter, declining 3.58% as against Sensex's 4.54% fall.

The mid-cap company has equity capital of Rs 93.45 crore. Face value per share is Rs 10.

According to reports, Eros International Media has slotted 12 south Indian films for release in FY 2016, surpassing even the number of Bollywood releases for the year.

On consolidated basis, Eros International Media's net profit surged 48.9% to Rs 53.35 crore on 95.7% growth in net sales to Rs 472.48 crore in Q1 June 2015 over Q1 June 2014.

Eros International Media co-produces, acquires and distributes Indian language films in multiple formats around the world.

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