Gautam Adani Loses Rs. 54,000 Crore In Just One Day & Twitter Got Flooded With Memes
Share or stock market plays an important role in every economy and it holds true for Indian economy as well. The share prices of a company speaks a lot about the company as the organizations with high share prices are considered better than the those who share prices are lower and it is quite evident that the investors will like to invest in those firms which shows better prospects for the future.
Adani group is one of the biggest business groups of India but on Monday it was all over the news for all wrong reasons. The shares of the Adani group dived downwards in a steep manner on Monday (June 14) after the reports came out that the National Securities Depository Ltd. has taken action against the three foreign funds (APMS Investment Fund, Albula Investment Fund and Cresta Fund) which are major stakeholders in Adani group by freezing their accounts.
The effect was pretty clear as the shares of Adani Enterprises fell by around 25 percent to Rs.1201.10, the shares of Adani Ports and Special Economic Zones reduced to Rs.681.50 (18.75 %), Adani Total Gas dipped to Rs. 1544.45 (5%), Adani Green Energy fell to Rs.1165.35 (5%), Adani Power came down to Rs.140.90 (4.99 %) and Adani Transmission saw a dip of 5% as it fell to Rs.1517.25.
The Indian twitterati has a reputation of giving their opinion in a hilarious manner on almost every issue so how can they remain silent when Adani Group lost around Rs.54,000 crore ($7 billion) in just one day.
Here are some selected hilarious reactions:
Elon musk -: I move crypto on one tweet
— ROhya 1000RE (@RohitHa93377337) June 14, 2021
— vatsal bhavsar (@vatsalbhavsar3) June 14, 2021
People trading in Adani stocks today. pic.twitter.com/esWgvdJ206
— Trendulkar (@Trendulkar) June 14, 2021
— Jitendra Yadav (@jitender4yadav) June 14, 2021
Adani Share Prices Were Going Up.
— India Trending (@IndiaTrendingin) June 14, 2021
— shashank (@fcsshashank) June 14, 2021
— CA Nilisha Mantri (@ca_nilisha) June 14, 2021
— Mr. Stark (@Mr_Stark_) June 14, 2021
Adani to its investors: pic.twitter.com/ZGuC7RzM71
— Tanishq Ganu (@smart__leaks) June 14, 2021
— Shani Gajera (@GajeraShani) June 14, 2021
— Rishab Singh (@Rishabisback) June 14, 2021
However, the matter is not so serious as it seemed to be. It is true that NSDL has froze the accounts of these foreign funds but that is limited to some accounts only and that too, in an incident happened in June 2016 and Adani group is not connected with this matter in any way. Though these three foreign funds will be displayed in the list of frozen accounts until and unless the Securities and Exchange Board of India (SEBI) takes action and lift the order but it doesn’t mean that these three funds can’t deal in the shares of Adani group.
Do let us know which meme you liked the most.
Cover Image: Indiatimes
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