Eros International Media’s shares has elevated up by 5 per cent today after the entertainment firm claimed that it has associated with UAE's largest film distribution and exhibition network, Phars Film.
On BSE, the shares have raised 5.15 percent to Rs. 220.50. At NSE, it jumped 4.38 per cent to Rs. 219.
The company announced its tie up with Phars Film yesterday.
“The partnership permits the two companies to jointly co-produce Malayalam films and explore theatrical rights between themselves”, the company said in a BSE filing.
“The contract licenses Eros to tap distribution of all Malayalam movies produced jointly in India while Phars Film will present the same overseas where it enjoys a dominant market share”, it added.