"Salman Khan" stocks slump big time

The Big news of  today, maybe bigger than the market crashing over 600 points currently is the news of Salman Khan getting convicted in the 2002 hit-and-run case. The actor had been on bail since October 25, 2002. The sessions court found him guilty of culpable homicide not amounting to murder under section 304-II of the IPC for an act committed with knowledge that it could result in someone's death. All charges against him have been proven and he faces imprisonment of 10 years.

Obviously, he will now apply for bail and then go on the district court and then High court and so on. But maybe for some time, he might have to stay in prison, maybe exchange notes with his buddy, Sanjay Dutt.

Two stocks have reacted very badly to this news. One is Eros International, which has two big-budget movies with him and that would be a huge financial blow. One movie, Bajrangi Bhaijaan was going to be Salman Khan's big Eid release on July 25, 2015. Eros is currently at the low point of the day at Rs.381, down almost 6%.

The other stock is Mandhana Industries. It has an exclusive agreement with Being Human - the Salman Khan Foundation for designing, marketing and distributing Being Human clothing products, its website shows. The stock price is down over 4% and it is also at the low-point of the day at Rs.264.