Eros International shares hit 20% lower circuit after Sebi bars group companies, MD

Shares of Eros International Media fell by 20% following an interim order from India’s market regulator. The company was told its accounts were “overstated and do not present a true and fair picture of the financial health of the company”. Eros International said it is seeking legal advice about the matter. Its shares have fallen 22% on a year-to-date basis, while the BSE Sensex is up 3.2%, and the stock’s price to book ratio is below the industry median.