Sharemasterindia.com: Shares of Eros International slumped nearly 20 per cent on Thursday
after the company clarified that it is not in talks to sell a stake.
Earlier in the day, shares of Eros rose as much as 11 per cent after a Mint newspaper report, citing sources, said that the Bollywood film producer and distributor is in advanced talks to sell a stake in its Eros Now unit to Singapore-based Fullerton Fund Management.
Eros Now is a streaming platform.
The Bombay Stock Exchange had sought a clarification from Eros following the news report.
Eros clarified that it continues to "evaluate strategic opportunities as part of ongoing business operations and confirm that Eros International Media Limited has neither had any discussions nor signed any agreements for such opportunities (other than already disclosed to the stock exchanges)."
Eros International also clarified that "Eros Now is owned by our ultimate parent company viz. Eros International PLC."
At 2:51 p.m., Eros International shares were down 18 per cent at Rs 440.45.
Read More: Indian Stock Market Tips
Earlier in the day, shares of Eros rose as much as 11 per cent after a Mint newspaper report, citing sources, said that the Bollywood film producer and distributor is in advanced talks to sell a stake in its Eros Now unit to Singapore-based Fullerton Fund Management.
Eros Now is a streaming platform.
The Bombay Stock Exchange had sought a clarification from Eros following the news report.
Eros clarified that it continues to "evaluate strategic opportunities as part of ongoing business operations and confirm that Eros International Media Limited has neither had any discussions nor signed any agreements for such opportunities (other than already disclosed to the stock exchanges)."
Eros International also clarified that "Eros Now is owned by our ultimate parent company viz. Eros International PLC."
At 2:51 p.m., Eros International shares were down 18 per cent at Rs 440.45.
Read More: Indian Stock Market Tips
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