Eros International Media rose sharply on Thursday from Rs 229 at around 1:30 pm to Rs 242 at 2 pm after news came that the Bombay High Court had acquitted actor Salman Khan in the 2002 hit-and-run case.
Justice Anil Ramchandra Joshi, who pronounced the verdict in the 2002 hit-and-run case, said on basis of evidences produced by the prosecution, the appellant (Salman Khan) cannot be convicted, no matter how differently the common man thinks, reports ANI.
Salman Khan's lawyer Amit Desai on Thursday told reporters in Mumbai that the outcome wa "professionally satisfying" for him.
"At the end of the day, it's a professionally satisfying outcome for me. So far as the client is concerned, it's a big relief after 13 years of journey that he has gone through."
The Eros share was trading at about Rs 237.55, up 3.82%, at 2:25 pm on the BSE and closed at Rs 237.70
The price had plunged on 6 May when a trial court convicted the actor in the same case. The price fell 5.66% to close at Rs 381 on the BSE.
Eros International was involved with two Salman Khan movies: "Bajrangi Bhaijaan" and "Hero".
The stock has been languishing for quite some time, even as it's fortunes will be decided when "Bajirao Mastani" releases on 18 December, to clash with Shah Rukh Khan's "Dilwale".
Eros International is the global distributor of "Bajirao Mastani", starring Ranveer Singh, Deepika Padukone and Priyanka Chopra. Analysts expect the company to earn Rs 200-300 crore from the film.
"Dilwale" features Shah Rukh Khan, Kajol, Varun Dhawan and Kriti Sanon, and is being distributed by SRK's production house Red Chillies Entertainment.
Movies have been witnessing buoyancy in business of late, with "Hate Story 3", "Tamasha" and "Prem Ratan Dhan Payo" doing well at the box office worldwide.
Justice Anil Ramchandra Joshi, who pronounced the verdict in the 2002 hit-and-run case, said on basis of evidences produced by the prosecution, the appellant (Salman Khan) cannot be convicted, no matter how differently the common man thinks, reports ANI.
Salman Khan's lawyer Amit Desai on Thursday told reporters in Mumbai that the outcome wa "professionally satisfying" for him.
"At the end of the day, it's a professionally satisfying outcome for me. So far as the client is concerned, it's a big relief after 13 years of journey that he has gone through."
Meanwhile, Maharashtra chief minister Devendra Fadnavis has said his government will examine the Bombay High Court verdict first before deciding on any future course of action.
