Indian stock market, March 31 -- It was a challenging financial year not just for the Indian stock market but also for the country's biggest conglomerates. As the market grappled with headwinds like foreign investor selling, trade war jitters and valuation concerns, the group companies of Mukesh Ambani, Gautam Adani, Kumar Mangalam Birla, and the Tatas were far from immune to the turbulence.

An analysis by Mint reveals that, out of these four prominent Indian conglomerates, only one-Aditya Birla Group-saw a growth in the combined market capitalisation of its companies.

Out of the 40 Aditya Birla group companies, 26 witnessed an increase in their share prices while 14 suffered losses, according to Capitaline data. This drove the overall ...