Correction in the benchmark indices could possibly have burned a Rs 500 hole in Rakesh Jhunjhunwala’s portfolio this week. S&P BSE Sensex erased 654 points for the duration of the week and the broader 50-stock NSE Nifty gave up the vital 15,000 mark. Based on Rakesh Jhunjhunwala’s shareholding at the finish of the October-December quarter, just six stocks owned by him could have collectively triggered the practically Rs 500 crore blow. These involve the likes of Titan business, a stock Jhunjhunwala has held for years now and even Tata Motors, which he added to the portfolio just lately.
The most significant fall, in percentage terms amongst these stocks, was observed by Tata Motors. The newly added Tata Group firm in Rakesh Jhunjhunwala’s portfolio fell 7.3% in the final 4 days of the week. The stock cost was at Rs 336 on closing on Monday but dropped to Rs 312 per share on Friday. Jhujhunwala owns 4 crore equity shares of the business, this translates to a Rs 96 crore loss in 4 days.
In terms of worth, it was one of his oldest bets that erased the biggest portion of wealth. Titan Company, an additional Tata Group firm that Rakesh Jhunjhunwala has held for years now, fell 4% considering the fact that closing on Monday. The stock cost went from Rs 1,485 to Rs 1,425. At the finish of the third quarter of the existing fiscal year, the huge bull held 4.71 crore shares of the business. This roughly tends to make the loss stand at a staggering Rs 283 crore.
Although some on Dalal Street are suggesting the back to standard trade now, which involves hospitality stocks, that theme did not specifically advantage Rakesh Jhunjhunwala this week. Indian Hotels fell 6.1% this week pulling the huge bull’s wealth reduced by Rs 20 crore. Along with this, Jhunjhunwala’s rural and agriculture play Escorts was also not assisting his portfolio this week. Shares of the business fell 4.42%, resulting in a Rs 39 crore loss in just 4 days.
Among the other bets of the ave investor that did not play out this week involve Crisil, the domestic arm of American rating and investigation agency S&P Global. Crisil’s share cost slipped 3.9% considering the fact that closing on Monday to finish the week at Rs 1,945 per share, this converts to a loss of Rs 31 crore for Rakesh Jhunjhunwala who owns Rs 39.75 lakh shares of the business. Pharma firm Lupin was also amongst the drags, falling 1.6%. This erased Rs 27 crore of Jhunjhunwala’s wealth. Overall the loss totals Rs 496 crore, based on the third quarter shareholding information.
(Calculations are based on shareholding pattern at the finish of the October-December quarter of fiscal year 2021.)