Moneycontrol Bureau
Shares of Mandhana slumped 5 percent intraday on Wednesday after Being Human brand ambassador Salman Khan has been pronounced guilty by a Mumbai Sessions Court of all charges in the 2002 hit-and-run case. The Bollywood actor has been sentenced to 5-year imprisonment for culpable homicide not amounting to murder. He was convicted for ramming his car, while drunk, into a roadside bakery at suburban Bandra in the early hours of September 28, 2002, killing one person and injuring four others.
Mandhana Industries has an exclusive licence agreement with Being Human- the Salman Khan Foundation - for designing, marketing and distributing Being Human Clothing.
Meanwhile, Eros International Media fell 7 percent as it had acquired global distribution rights of Salman Khan’s two upcoming movies - Bajrangi Bhaijaan and Hero. Bajrangi Bhaijaan, slated for an Eid release in July 2015, also stars Kareena Kapoor and Nawazuddin Siddiqui. Bajrangi Bhaijaan is produced by Salman Khan and Rockline Venkatesh Films.
Hero is a co-production with Mukta Arts, and is a modern day adaptation of Subhash Ghai's classic of the same name being directed by Nikhil Advani. The superstar endorses 10 brands ranging from cola drinks to motorcycles and has huge money riding on him.
At 13:50 hrs Mandhana Industries was at Rs 264.80, down Rs 11.40, or 4.13 percent while Eros International Media was at Rs 388.65, down Rs 15.25, or 3.78 percent on the BSE.
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