Eros International’s stock surges over 5% intraday on positive internal review

The shares of Eros International Media surged by over 5% intraday on Tuesday after the company announced the completion of an internal review that reinforced confidence in the company’s accounting policy, practices, and disclosures.
The stock jumped 5.63% to Rs 174.45 in the early trade on the BSE.
At NSE, the shares of the company climbed 5.7% to Rs 174.35 in the early trade on Tuesday.
The review covered analysis of company’s financial reporting areas which includes its UAE sales and revenue, amortisation policy of intangibles, related party transaction, Eros International Media had said in a BSE filing on Monday.
The entertainment firm had said an independent internal review of the company by a US-based law firm has “reinforced confidence in the company’s accounting policy, practices, and disclosures”.
The company expects to announce its full year results for the 2015-16 financial year in June.
At 1049 hours, the shares of Eros International Media were trading up 4.21% slightly lower from the day’s high or Rs 6.95 at Rs 172.10 per scrip on the BSE.