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Hindujas shed most wealth in market rout amid virus fears

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MUMBAI : The wave of selling since pandemic fears struck in March have eroded trillions of investor wealth for India’s biggest conglomerates.

Among India’s 10 most valued business groups with cumulative market valuation, the Hinduja Group has seen the biggest wealth erosion of more than 67% in March, while benchmark indices have lost 20%.

Markets worldwide have fallen steeply in March as Covid-19 spread, infecting hundreds of thousands across continents. The combined market valuation of all listed Hinduja Group companies has fallen 67.27%, followed by the Bajaj group (42.59%), Mahindra group (36.76%), and L&T group (33%), according to Bloomberg data till 25 March.

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