Eros International – Mandhana stocks sink after court’s verdict on Salman Khan
Shares of Eros International Media and Mandhana Industries Ltd sank after Salman Khan‘s verdict. The entities who are associated with Salman Khan. They came under intense selling pressure after Salman was sentenced to five years rigorous imprisonment in the Hit & Run Case.
Eros International Media had in December 2014 announced its collaboration on the two maiden productions of Salman Khan Films – ‘Bajrangi Bhaijaan‘ and ‘Hero’. Mandhana Industries is associated with the actor’s NGO ‘Being Human’. It has an exclusive licence agreement with Being Human – the Salman Khan Foundation – for designing, marketing and distributing Being Human clothing products.
Eros International shares had slumped 7.15 per cent to Rs 375. Shares of Mandhana Industries, too, plunged 4.24 per cent to close at Rs 264.50. In intra-day session, it dipped 4.74 per cent to Rs 263.10. Eros’s market valuation fell by Rs 213.32 crore to Rs 3,522.68 crore and that of Mandhana went down by Rs 37.87 crore to Rs 876.13 crore.
Salman Khan was convicted of culpable homicide. He had rammed his SUV in a roadside bakery in the process, killing one person and wounding four others sleeping on the pavement outside.