 "Billion-dollar club loses 118 companies amid equity market selloff")
The Indian equity market downturn has sharply reduced the number of companies with a valuation of $1 billion or more, with the count dropping nearly a fifth in the past five months.
As many as 618 companies were part of the billion-dollar club when the markets reached all-time highs on September 26 last year. That number has since fallen to 500 following a $1 trillion wipeout in India’s market capitalisation amid relentless selling by foreign portfolio investors (FPIs).
The decline is even more pronounced at the upper end of the market. The number of firms valued at $100 billion or
