Eros cheers with 4% scrip rise as HC lets Salman walk free for now
Shares of Eros International Media, the entity associated with Bollywood superstar Salman Khan, ended with over 4 per cent gains after the Bombay High Court on Friday suspended the five-year sentence awarded to the actor in the 2002 hit-and-run case.
The stock went up by 4.29 per cent to settle at Rs 402 on the BSE. During the day, it gained 8.57 per cent to Rs 418.50. At the NSE, it rose by 4.31 per cent to end at Rs 403.50. 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 major reprieve for Salman Khan, the Bombay High Court suspended the five-year sentence awarded to him in the 2002 hit-and-run case, admitted his appeal against conviction and granted him bail. Justice Abhay Thipsay directed Khan to surrender before the trial court forthwith and execute a fresh bail bond of Rs 30,000.
The interim bail granted to the actor hours after his conviction and sentencing on Wednesday was to expire on Friday. While admitting the 49-year-old actor’s appeal, the HC said it will expedite the hearing on it and posted the matter for June 15. Meanwhile, shares of Mandhana Industries ended flat at Rs 255, down 0.04 per cent. 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.