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Mandhana Industries' shares rise after Salman verdict

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Mandhana Industries' shares rise after Salman verdict

Shares in textile and apparel manufacturer Mandhana Industries, which has an exclusive licence agreement with Salman Khan’s charitable trust Being Human, shot up nearly 12 per cent after the Bombay High Court acquitted the Bollywood superstar in the 2002 hit-and-run case.

The company has exclusive rights to promote and use the Being Human brand name worldwide for its clothing products and other merchandise for the next nine years and three months with Salman Khan as the brand ambassador. According to estimates, Being Human contributes 10 per cent to Mandhana Industries' revenues.

Share prices of Mandhana Industries closed at Rs 296 on the BSE, the highest intra-day figure since April 24

Other brands (that Khan is associated with) like Thums Up, Wheel and P.N. Gadgil Jewellers now have all the right reasons to welcome the latest verdict. According to reliable estimates, Khan’s net worth stands at $200 million.

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