Coronavirus outbreak: Top family firms lose Rs 22 trillion in m-cap

But Avenue Supermart, Bharti Group saw a big YoY jump this fiscal year

The sell-off in the stock market because of likely losses resulting from the lockdown imposed in light of the spread of the coronavirus disease (Covid-19) took a toll on India’s family-owned businesses.
 

These firms together took a Rs 22 trillion hit on market capitalisation in financial year 2019-20 (FY20) as investors sold shares fearing sharp decline in earnings in FY21.
 

The combined market capitalisation of the top 873 family-owned companies was down 26.3 per cent year-on-year (YoY) to Rs 61.8 trillion at the end of trading on Tuesday. It had grown 6 per cent in FY19 and nearly 20 per