Shares of Eros International Media rose by nearly 5 per cent today after the entertainment firm said it has tied up with UAE’s largest film distribution and exhibition network, Phars Film. Opening on a strong note, the stock gained 5.15 per cent to Rs 220.50 on BSE. At NSE, it jumped 4.38 per cent to Rs 219.
Eros International Media on Thursday announced its association with Phars Film.
The partnership allows the two companies to jointly co-produce Malayalam films and explore theatrical rights between themselves, the company said in a BSE filing.
The deal 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.