Salman Verdict Won’t Affect Mandhana Industries
“We believe that the verdict will have no impact on our apparel business since we will continue serving our patrons with the same integrity,” Mandhana Industries managing director, Manish Mandhana said in a statement.
Shares of Mandhana Industries plunged 4.24 per cent to close at Rs 264.50 yesterday, immediately after the verdict. The stock fell further by 3.55 per cent to settle at Rs 255.10 on the BSE.
Mandhana Industries has been associated with Salman Khan’s non-governmental organization called ‘Being Human’. It has an exclusive license agreement with ‘Being Human’ to design, market and distribute ‘Being Human’ branded clothing products.
Bollywood star was convicted of culpable homicide yesterday and sentenced to five years’ imprisonment.