Eros Media jumps up 10%

Eros Media is among the top gainers on the BSE currently, going up 10% during the day to Rs.136.75.

The stock price surged on news that Reliance Industries has acquired stake in the parent company, Eros International Plc.

This news was announced a few days ago and today, RIL completed the acquisition process; it has taken 5% stake by buying 31,11,088 newly listed ordinary shares from Eros International.

This was acquired at $15 per share for total consideration of $46.6 million.