Twitter recently went crazy, when Adani stock prices dipped after Sucheta Dalal single tweet

Publish Date: 23 Jun, 2021
Google Images Twitter recently went crazy, when Adani stock prices dipped after Sucheta Dalal single tweet

If there's a fire in the jungle then you’ll get to know its reason and reaction on Twitter. On Monday, Shares of Adani group companies saw a fall of 5 to 18 per cent and Business journalist Sucheta Dalal was seen trending on Twitter. One tweet of Sucheta Dalal from June 12, made a major pull down in shares of Adani group of companies.

Without mentioning any name or group, Sucheta Dalal made a big tweet on Saturday hinting at a ‘scandal’. While the tweet got viral, it has been speculated that her tweet also made a big impact on the falling price of Adani stocks. 

 Also Read: Net worth of Gautam Adani

Sucheta Dalal tweet on Adani Group Scandal

In her tweet Sucheta wrote, “Another scandal hard to prove outside the black box of information available with SEBI tracking systems is the return of an operator of the past who is relentlessly rigging prices of one group. All through foreign entities! His speciality & that of a former FM. Nothing changes!.”

NSDL froze 3 foreign funds

Following this incident, Shares of Adani group companies saw a major fall of 5 to 18 per cent on Monday. Shares of group companies fell after a report in the Economic Times revealed that National Securities Depository Limited (NSDL) has frozen the accounts of three foreign funds which have high stakes in Adani Group. 

As per the reports, these overseas funds have invested a total of $435 billion in Adani Group companies. The reports mention that the funds were frozen before May 31, 2021, possibly due to, “insufficient disclosure of information regarding beneficial ownership.” 

On Monday, Adani Enterprises Share Price and Adani Ports Stock Price listed in Nifty 50 saw the biggest break of 15-15 per cent in early trade. At 10:35 am, the price of one share of Adani Enterprises was down 20.70 per cent at Rs 1,270 per share.

As per the information given by an official, NSDL took this step due to the insufficiency of documents related to Beneficial Ownership.

Sucheta Dalal Trending on Twitter

Meanwhile, netizens made the best memes to summarize the Sucheta Dalal and Adani situation with everyone.


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