The cost of Facebook data scandal for Indian investors
The data scandal at Facebook caused the company's shares to crash, wiping out $49.2 billion from its market cap in two days.
By ET Bureau | Updated:
The data scandal at Facebook caused the company shares to crash, wiping out $49.2 billion (or Rs 3.11 lakh crore) from its market cap in two days. The loss to investors was:
- 1.2 times the market cap of Infosys Rs 2.55 lakh crore
- 40% of the AUM of equity funds Rs 7.76 lakh crore (as on 28 Feb 2018)
- 1.3 times the equity FDI inflows into India between April 2017 and December 2017 Rs 2.31 lakh crore
- 1.6 times the combined market cap of PSU banks except SBI Rs 1.88 lakh crore
- 2.7 times the total net profit of all listed companies in India in Oct-Dec 2017 Rs 1.17 lakh crore
- 1.5 times the total sales of auto companies in Oct-Dec 2017 Rs 2.02 lakh crore
- 10% of India’s Oct-Dec 2017 GDP Rs 32.49 lakh crore (at constant prices)
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