Eros International shares gain nearly 5% on pact with RIL

Shares of Eros International rose nearly 5 per cent a day after Reliance Industries announced to acquire 5 per cent stake in the media firm, through a subsidiary.

The stock went up 4.63 per cent to end at Rs 206.85 on BSE. During the day, it jumped 10.77 per cent to Rs 219. At NSE, shares of the company climbed 4.39 per cent to close at Rs 206.55.

In terms of equity volume, 5.80 lakh shares of the company were traded on BSE and over 41 lakh shares changed hands at NSE during the day.

Reliance and Eros International Media, part of Eros International, have agreed to jointly produce and consolidate content from across the country.
 

"The parties will equally invest up to Rs 1,000 crore in aggregate to produce and acquire Indian films and digital originals across all languages," a statement said yesterday.