Salman Khan has been acquitted; Mandhana Retail Ventures rallies

Bollywood superstar Salman Khan was on Wednesday acquitted from all charges in the Arms act case, connected with the alleged poaching of two black bucks. The case was registered against the actor in 1998.

Jan 18, 2017 08:01 IST India Infoline News Service

Bollywood superstar Salman Khan was on Wednesday acquitted from all charges in the Arms act case, connected with the alleged poaching of two black bucks. The case was registered against the actor in 1998.
 
Resultantly, Mandhana Retail Ventures is having a good day on the streets. The stock of the company is trading with gain of 6.45%. The company is associated with Salman Khan’s 'Being Human' brand.
 
The company was listed on the bourses in the month of December 2016. The company has garnered a lot of attention from the media as ace investor, Mr. Rakesh Jhunjhunwala has bought close to 13% stake in the stock of the company.
 
The stock is trading with a P/E of 21.19.
 
The company is the sole distributor of the Salman Khan brand, Being Human.

Stock view:

Mandhana Retail Ventures Ltd is currently trading at Rs 213, up by Rs 12.15 or 6.05% from its previous closing of Rs 200.85 on the BSE.

The scrip opened at Rs 202 and has touched a high and low of Rs 217.5 and Rs 197 respectively. So far 400991(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 443.53 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 246 on 16-Dec-2016 and a 52 week low of Rs 165.25 on 27-Dec-2016. Last one week high and low of the scrip stood at Rs 207.5 and Rs 191 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 0 % and 0 % respectively.

The stock is currently trading above its 200 DMA.

Related Story