Baba Ramdev in a file photo

Like Adani Group, Patanjali stocks plummet

After Gautam Adani, yoga guru Ramdev is the second undisguised supporter of Prime Minister Narendra Modi to face a stock market crash.

Share prices of his Patanjali company have fallen to ₹911.40 in the last month, a crash of a whopping 22.36 per cent.

Also read: Ramdev should stop using Patanjali as brand name: BJP MP

The bloodbath in the stock market mirrors the savage whipping the stocks of the Adani Group have taken since allegations of corporate fraud were hurled at it on January 24.

It is not yet clear what is happening to Patanjali.

Patanjali shares

Y Sathish Reddy, Chairman of the Telangana State Renewable Energy Development Corporation, tweeted: “Revenue of Patanjali suspiciously grew from just Rs 1,184 crore in 2014 to Rs 40,000 crore now. Patanjali stock is rapidly falling from Rs 1,200 few days back to Rs 900 now!”

Sweden-based professor Ashok Swain tweeted: “The share price of Patanjali Foods has gone down.”

Also read: Divya Pharmacy asked to stop production of Ramdev’s 5 Patanjali medicines

Also read: Adani Group stocks nosedive

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