India. Retailer capitalisation increases with Covid-19

In the 2020 Brand Z report by WPP and Kantard for India, Flipkart, 81.87% owned by Walmart and other investors (including Chinese Tencent with 5.34%) ranks 8^th with a market capitalisation of US$6.5 billion (a rise of 40%), as does the hypermarket chain D-Mart, valued at US$3.3 billion, (up by 38%), finishing 16^th in the ranking. Reliance Retail, which has absorbed rival Future Retail and whose e-commerce subsidiary Jiomart was boosted by results during the lockdown period, posted the strongest increase of 102%.