Due to the Hindenburg Research report, the shares of Adani Group have fallen by about 60 percent. The group’s market cap has declined by more than $ 100 billion. Adani Group has a total of 10 listed companies. The money of domestic and foreign investors has been invested in these. This report has shaken Adani’s empire. There is a huge decline in the shares of Adani Group. The personal wealth of Gautam Adani himself has dropped by $127 billion to $61.8 billion. From the stock market to the Parliament, there has been an uproar regarding the Adani case. In the midst of this hue and cry, Patanjali Foods Company of Yoga Guru Baba Ramdev is also getting reprimanded. Its stock is continuously falling and till now 7000 crores of investors have sunk. No one looked at him.
Shares are continuously falling
Patanjali Foods shares have continued to decline since January 24. On February 24, the share price of Patanjali Foods was Rs 1208, which fell to Rs 907 on February 3. This stock has fallen by more than 25 percent. On February 3, the stock of Patanjali Foods had reached the lower circuit. However, with the opening of the market on the first day of the trading week on Monday, there has been a boom in the share case. Today Patanjali shares have reached 936.90. The market capital of the company as on February 3 is Rs 32825.69 crore, while on January 27, Patanjali’s mark cap was around Rs 40,000 crore.
In a week, there was a loss of Rs 7000 crore in the market capital of Patanjali. Patanjali’s net profit rose 15 percent in the December quarter. Its net profit reached Rs 269.18 crore. Even after the increase in net profit, there was a big decline in the stock of the company. The share of Rs 1208 fell to Rs 904 in a week. You will be surprised to know that in September 2022, the market cap of Patanjali Foods was at Rs 51 thousand crore, which fell to close to Rs 33 thousand crore in January 2023. If we calculate with this number, then in 5 months the investors have suffered a setback of more than 18000 crores.
A report shocked the group
A January 24 report by American short-selling firm Hindenburg Research claimed that the Adani Group had been involved in blatant stock manipulation and account fraud for decades. However, Adani Group termed this report as a bundle of lies and called it a conspiracy against India. But since the arrival of this report, there has been a huge fall in the shares of the group. Group chairman Gautam Adani’s net worth has declined by $ 50 billion and he has slipped from third to 21st position in the list of the world’s richest people.