Recently Eros media international has been in news although not for good reasons 🙂 Eros which is also listed in NYSE was downgraded by Wells Fargo ,a leading banking and financial services company.

See in this succinct note from the newspaper cut

Wells Fargo analyst Eric Katz had said the downgrade was driven by a continued increase in receivables in the United Arab Emirates business, concerns on whether Eros would turn free-cash-flow positive, and worries about Eros Now.

The management countered such claims

We would like to reassure our shareholders that there has been no material change to the previously announced strong fundamentals of the company.

The first quarter results have been strong and nothing has materially changed since then, the company said.

We will be announcing what we expect to be a strong second quarter in the first half of November,it added.

We reaffirm our commitment to enhance shareholder value.

We believe that the merit in our business and our fundamentals are there for everyone to see as we remain focused on achieving our business goals and objectives

also most of other brokerage houses that cover company continue to maintain their buy rating

My only exposure to Eros has … Read the rest