<p>Tiger Global Management isn’t having what one would call a roaring time. Its biggest bet in India— e-retailer <a href="http://www.financialexpress.com/tag/flipkart/">Flipkart</a>—posted a loss of R2,306 crore in FY16, following it up with a loss of R1,296 crore in the nine months to December.</p>
<p>In what seems to be serial downgrading, T Rowe Price last week marked down the shares of Flipkart valuing it at just short of $ 10 billion. Before that, in November 2016, Morgan Stanley had lowered the valuation by a steep 38% to just $5.54 billion.</p>