Salman effect: Eros, Mandhana tank up to 6% after court's verdict

Shares of Eros International Media and Mandhana Industries Ltd, the entities associated with Samlan Khan, came under intense selling pressure today after the Bollywood actor was sentenced to five years rigorous imprisonment in the 2002 hit-and-run case.

Eros International shares tanked 5.72 per cent to settle at Rs 380.80 on the BSE. During the day, it 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.

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 Media had in December last year announced its collaboration on the two maiden productions of Salman Khan Films - 'Bajrangi Bhaijaan' and 'Hero'.

In a jolt to the actor, a sessions court today sentenced him to five years rigorous imprisonment in the 2002 hit-and-run case after which the actor was arrested.

The 49-year-old actor was convicted of culpable homicide for ramming a roadside bakery with his Toyota Land Cruiser and, in the process, killing one person and wounding four others sleeping on the pavement outside.

Meanwhile, the stock market also witnessed a bloodbath where the BSE benchmark Sensex closed 722.77 points lower at 26,717.37.