80% drop! Ace investor Rakesh Jhunjhunwala loses massive from Salman Khan’s Being Human licence holder

In the midst of both Sensex and Nifty witnessing buying sentiments, there was one stock which saw massive bloodbath, so much, that it even plunged by nearly 9%. Interestingly, the selling pressure in this stock, also dented big bull Rakesh Jhunjhunwala’s wealth at certain level as well. This stock is The Mandhana Retail Ventures, which has tumbled by 8.93% on Sensex, after touching an intraday low of Rs 28.55 per piece. However, the stock finished at Rs 29.60 per piece down by 5.58% on the index. This Salman Khan’s Being Human license holder has turned out to be the worst performer for Dalal Street king. 

In one year’s time, The Mandhana has dropped by over 80%. On March 13, last year, the company was trading at level of Rs 121 per piece, and since then it has touched an all-time low of Rs 23.30 per piece. 

This is a blow to Jhunjhunwala. In percentage terms, Mandhana is Jhunjhunwala's second highest stock. The ace investor holds about 12.74% stake in the company with 2,813,274 shares worth Rs 8.8 crore. 

TrendLyne.com which tracks Jhunjhunwala's portfolio performance, revealed that the investor began trading in The Mandhana from December 2016. Jhunjhunwala has neither invested further, nor removed money in this company since then. Is that a thumbs-up from the big bull? You decide!

For your information, historical data reveals that The Mandhana had clocked an all-time high of Rs 246 per piece on December 16, 2016. One can assume, Jhunjhunwala must have made his move in Mandhana during that time. 

सट्टा बाजार में अबकी बार किसकी सरकार? जानने के लिए देखिए ये विडीयो।@AnilSinghviZEE @SumitResearch pic.twitter.com/RiTgpe5m3o

— Zee Business (@ZeeBusiness) March 13, 2019

The Mandhana Retail Venture! 

This Company was incorporated as ‘Mandhana Retail Ventures Limited’ dated February 12, 2011 and the Company’s name was changed to ‘The Mandhana Retail Ventures Limited’ dated September 26, 2016.

Mandhana Industries Limited (MIL), the Demerged Company had entered into global exclusive Brand License Agreement with “Being Human – The Salman Khan Foundation” on December 23, 2010 effective from January 1, 2011 to use trademark & logo of “Being Human” for all clothes range/clothing lines.

Post approval of Scheme, MIL and The Salman Khan Foundation agreed to terminate the erstwhile Brand License Agreement vide Termination Agreement dated August 24, 2016 and simultaneously our Company entered into global exclusive Trademark License Agreement on the even date to design, manufacture, retail and distribute men’s wear, women’s wear and accessories under “Being Human” trademark until March 31, 2020.