Shares of Eros International Media gained more than 12 percent on Indian stock exchanges Friday, reflecting to the move by parent company Eros Plc's shares that gained almost 20 percent on Nasdaq Thursday. The stock was trading at Rs 176.30 at around 1.10 p.m. on the BSE, up 11.48 percent from its previous close.
Eros International Media is a production and distribution house based in Mumbai. The company had announced in January this year that it would be releasing 65 films this year in various languages.
Its latest upcoming release is Telugu action film "Sardaar Gabbar Singh," featuring Pawan Kalyan. The movie will be released April 18, including a dubbed version in Hindi.
Some of Eros International Media's earlier releases, such as "Bajirao Mastani" starring Priyanka Chopra, Deepika Padukone and Ranveer Singh, and "Bajrangi Bhaijaan" starring Salman Khan, did good business at the box office.
"Bajirao Mastani" was pitted against Shah Rukh Khan's "Dilwale" when both the films were released Dec. 18 last year.
The S&P BSE Sensex was trading at 24,790 at around 1.25 p.m., up 113 points, or 0.46 percent, from its previous close. Sensex gainers included GAIL (India), TCS, Tata Steel and Wipro, while losers included Lupin, Sun Pharma and Maruti Suzuki.
The Lupin stock plunged to a 52-day low at Rs 1,552 on the BSE, before recovering to trade at Rs 1,562, after brokerage CLSA downgraded the stock to underperform from buy.
The 50-scrip NSE Nifty was trading at 7,554, up 0.55 percent.
The rupee consolidated its earlier gains on Friday and opened at 66.61, up 14 paise from Thursday's closing of 66.75 to the US dollar.