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.
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!”
While #Adani stands as no1 fraudster. We seem to have a chota bhai of him hiding silently.
Revenue of #Patanjali suspiciously grew from just ₹1,184 Cr in 2014 to ₹40,000 Cr now. Patanjali stock is rapidly falling 👇
From 1200₹ few days back to ₹900 now! pic.twitter.com/mLV3UKXBm9
— YSR (@ysathishreddy) February 5, 2023
Sweden-based professor Ashok Swain tweeted: “The share price of Patanjali Foods has gone down.”
Not only Adani, but Ramdev also going down – The share price of Ramdev’s Patanjali Foods has gone down from Rs 1,495 four months ago to Rs 700 now.
— Ashok Swain (@ashoswai) February 5, 2023
Also read: Divya Pharmacy asked to stop production of Ramdev’s 5 Patanjali medicines
Also read: Adani Group stocks nosedive