Salman Khan conviction sees this company's shares fall 15 pc from day's high
Mumbai: Shares of Mandhana Retail Ventures fell sharply soon after Salman Khan was convicted by a Jodhpur court in the 1998 blackbuck poaching case.
Mandhana Retail has licensing arrangement with the 52-year-old actor's Being Human Foundation to design, manufacture, retail and distribute clothing lines under "Being Human" trademark.
Shares of Mandhana Retail Ventures fell as much as 15 per cent from day's high of Rs 132.25. It fell to Rs 111.40 at day's low before trading flat at Rs 115.70 during late afternoon trade on Thursday. The share of Mandhana Retail Ventures ended the day's trading at Rs 116.
A Jodhpur court on Thursday has sentenced Salman Khan to five years in jail in the 1998 blackbuck poaching case, while his co-actors - Saif Ali Khan, Tabu, Sonali Bendre and Neelam Kothari - have been acquitted.
Mandhana Retail was incorporated as 'Mandhana Retail Ventures Limited' on February 12, 2011 and the company's name was later changed to 'The Mandhana Retail Ventures Limited' in September 2016.
Mandhana Industries, the demerged company had entered into global exclusive agreement with "Being Human - The Salman Khan Foundation" in December 2010 to use trademark and logo of "Being Human" for all clothes range/clothing lines.
(With Agency Inputs)
