Being associated with Salman Khan used to work well for brands. Until today, when shares of Eros International Media and Mandhana Industries Ltd both plunged after Khan was convicted and sentenced in the 2002 hit-and-run case.
Mandhana Industries is associated with the actor's NGO 'Being Human', with which it has an exclusive licensing agreement for designing, marketing and distribution of apparel. Eros International Media had tied up with two Salman Khan movies, Bajrangi Bhaijaan and Hero, last year.
Eros International scrip plunged 6.15 percent, while Mandhana Industries slumped 4.7 percent at 3.20 pm on the Bombay Stock Exchange.
Salman Khan was convicted of all charges in the 2002 hit-and-run case, and sentenced to five years of rigorous imprisonment by a sessions court. He had rammed his car, while drunk, into a roadside bakery in Mumbai on September 28, 2002, killing one person and injuring four others.
Khan has sought bail in the Bombay High Court, which will hear the case at 4 pm today.