One decision of Supreme Court and Ramdev lost Rs 2300 crores, know how - Newztezz Online

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Wednesday, February 28, 2024

One decision of Supreme Court and Ramdev lost Rs 2300 crores, know how

After the court's decision, there was a huge fall in the company's shares on Wednesday. According to data, the shares of Patjali Foods have fallen by about 4 percent in BSE. After which the company's shares came to Rs 1556. Whereas a day earlier the company's shares had closed at Rs 1620.20.

The Supreme Court gave a big blow to Baba Ramdev's company Patanjali. After which there was a decline of about 4 percent in the shares of Patanjali Foods on Wednesday morning. In fact, the Supreme Court on Tuesday sent a contempt notice to Ramdev's Patanjali Ayurved and its managing director Acharya Balkrishna for going back on their promise of not making "misleading claims" in drug advertisements. The effect of which is visible in the shares of the companies listed in the stock market. In just 105 minutes, Ramdev's company suffered a loss of about Rs 2300 crore. Let us also tell you what the Supreme Court had said on Tuesday and after that how the figures of the company's shares are being seen in the market.

Ban on this also

The Supreme Court also barred Patanjali from promoting products claiming to cure diseases like heart disease and asthma. The decision came after the Indian Medical Association (IMA) presented evidence in the court, including Patanjali's advertisement in The Hindu newspaper and a press conference where the company claimed to completely cure diabetes and asthma with the help of yoga. Had claimed. The court found Patanjali in violation of a previous court order, which had restrained Patanjali from issuing misleading advertisements and making misleading claims. However, in a regulatory filing the same day, Patanjali Foods said the Supreme Court of India's comments do not pertain to Patanjali Foods Ltd, an independently listed unit that operates in the edible oils and edible FMCG sectors.

Company's shares declined by about 4 percent

After the court's decision, there was a huge fall in the company's shares on Wednesday. According to the data, there was a decline of about 4 percent in the shares of Patjali Foods in BSE and the company's share came to Rs 1556. Whereas a day earlier the company's shares had closed at Rs 1620.20. However, today the company's shares opened with a big fall at Rs 1562.05. At present the company's share is trading at Rs 1565.95 with a fall of Rs 54.25 i.e. Rs 3.35.

Rs 2300 crore lost in 105 minutes

Due to the fall in the company's shares, there was a significant reduction in the valuation of the company. Ramdev's company lost around Rs 2300 crore during the 105-minute trading session. A day ago the valuation of the company was Rs 58,650.40 crore. At 11 am it reached Rs 56,355.35 crore. This means that the company saw a decline of Rs 2,295.05 crore in its valuation in 105 minutes. At present the valuation of the company is at Rs 56,471.20.

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