The market is very happy with Eros International today and they have an activist shareholder of the company to thank for. The company had announced a $50 million plan to launch a movie and music channel and a likely buyout of the B4U network. But a 3% stake holder, Knight Assets strongly opposed the plans and instead urged the company to focus back on its core business and ErosNow, its digital platform for viedo-on-demand like Netflix. Knight Assets said the company, with its 30% share of Bollywood box office, must accelerate customer acquisition for its Netflix-style subscription driven digital platform ErosNow. With internet penetration on the rise, this form of digital entertainment will be the next game changer.

There is also a buzz that the company is looking at the option of delisting itself from the Indian bourses and this could also be a major reason for the flutter.

Meanwhile, the company is basking in the over Rs.100 crore collection it made on Tanu Weds Manu Returns.

The stock is currently up almost 6.5% at Rs.470.75 with an intra day high of Rs.480. Volumes are at some 34,000 shares being traded. Its 52-week high stands at Rs.494.