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Eros International share price extends losses post downgrade by CARE Ratings, hits fresh all-time low

Eros International Media share price fell to an intra day and all time low of 42.50 compared to its previous close of 53.10 on BSE.

twitter-logo BusinessToday.In        Last Updated: June 7, 2019  | 10:57 IST
Eros International share price extends losses post downgrade by CARE Ratings, hits fresh all-time low

Eros International Media share price extended losses for the third consecutive day to hit its fresh all-time low in trade today.  Rating company CARE cut Eros International's long-term bank facilities rating to default from BBB- on delay in debt servicing after which share price tanked 20% to 53.10 level in trade yesterday.

Eros International Media share price fell to an intra day and all time low of 42.50 compared to its previous close of 53.10 on BSE.

At 10:42 am, Eros International Media share price was trading 13% lower at 46 level on BSE. Eros International Media share price has logged 30.50% fall in three sessions.

The stock opened at a loss of 20% at 42.50 level on BSE today. The turnover for the stock stood at Rs 7.94 crore with 17.80 lakh shares on BSE. In a communication to BSE, Eros said the ratings for long-term bank facilities for term loan of Rs 300 crore have been revised to default from the earlier rating of CARE BBB- (stable outlook).

Ratings for long-term bank facilities for cash credit of Rs 263 crore have also been revised to default from CARE BBB- (stable outlook). Similarly, for short term bank facilities of Rs 187 crore too, the rating has been revised to default from A3.

Meanwhile, Sensex was trading 3 points lower at 39,526.  Nifty too traded 3 points lower at 11,840.

Edited by Aseem Thapliyal

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