Shares of Eros International Media on Wednesday rose by over 9.5 per cent after the company said its on-demand entertainment portal Eros Now has acquired world wide rights of Zee TV shows.
Stock of Eros International surged 8.74 per cent to close at Rs. 247.05 on the BSE. During the day, it climbed 9.94 per cent to Rs. 249.80 — its 52-week high.
At the NSE, the scrip settled 9.54 per cent higher at Rs. 248.60.
On the volume front, 2.92 lakh shares of the company changed hands at the BSE, while over 14 lakh shares were traded at the NSE during the day.
The partnership would allow Eros Now to showcase Zee’s television content ranging from serials and soaps to reality shows, the company had said in a statement.
Commenting on the development, Eros Now CEO R.L. Singh had said: “Partnership with a leading television player like Zee for compelling content is a natural step to providing the very best of Indian entertainment to our consumers worldwide. We are very excited to bring these shows to the platform and are confident this content will be enjoyed worldwide.”
Zee Entertainment Enterprises Ltd MD & CEO Punit Goenka had said: “It is a logical extension for us to make our popular programme available on leading online provider. By partnering with Eros Now, we hope to capture viewer from around the world with the best shows from Zee’s library.”
Established in 2012, Eros Now is a video on demand portal of the group. It has Eros film library along with third party content.
