Morgan Stanleys cuts Flipkart’s value by 4 billion dollars

Morgan Stanley, a key investor in India’s largest e-commerce site Flipkart, has marked down its investment value. Now Flipkart stares at a drop in its 15 billion dollar (Rs 10,206.75 crores) valuation. In December, Morgan Stanley’s valuation in Flipkart was 58.9 million dollar ( Rs 40.09 crores), which was down 27 per cent since June 2015.