Following the outbreak of the Hindenburg report on the Adani group, on Friday, the hashtags ‘Hindenburg Report’, ‘Hindenburg Research’, and ‘Adani scam’ trended on Twitter.
Several Twitter users including members of the opposition raised questions on the union government’s role in the development.
Along with the Adani Group share pummelling on Friday, with the group losing Rs 3.37 lakh crore in aggregate market capitalisation in a single day, Life Insurance Corporation (LIC), the single largest non-promoter domestic shareholder in five of the largest Adani Group companies by market capitalisation, lost Rs 16,627 crore due to a drop in the value of its Adani Group holdings.
The value of LIC’s Adani Group assets fell from Rs 72,193 crore on Tuesday to Rs 55,565 crore on Friday, a 22% drop in only two days.
Meanwhile, LIC’s share price declined 3.5 percent during the day on Friday, falling 5.3 percent in the prior two days.
By the time of publishing this story, #Adaniscam garnered 10.4k tweets and #HindenburgResearch garnered 4764 tweets.
