Even huge bull Rakesh Jhunjhunwala was not immune to losses on Dalal Street this week as benchmark indices fell practically 2% each and every. The billionaire investor lost Rs 506 crore in just 3 stocks, which includes his favourite Titan Company Limited. The other two stocks that contributed to this loss had been Tata Motors and Escorts. In the vacation-shortened week, Sensex and Nifty fell on 3 out of 4 trading sessions resulting as indices continued to stay variety-bound amid increasing coronavirus circumstances across the nation and enhanced movement restrictions.
The heaviest loss, suffered by Rakesh Jhunjhunwala this week was in his most renowned bets, Titan Company Limited. The ace investors, along with his wife Rekha Jhunjhunwala, holds 4.49 crore equity shares of the enterprise or a 5.1% stake. The share price tag of Titan recorded a 5.23% fall this week. With this, the worth of Rakesh Jhunjhunwala’s holding in the firm went down from Rs 6,955 crore at the finish of the earlier week to Rs 6,591 crore on Friday’s closing bell. This translated into a loss of roughly Rs 364 crore for the huge bull.
Another Tata group firm, Tata Motors was also noticed pulling Rakesh Jhunjhunwala’s wealth reduce this week. The share price tag of Tata Motors fell 5.42% this week, settling at Rs 293 per share on a closing basis. Rakesh Jhunjhunwala invested in Tata Motors last fiscal year, selecting up a 1.3% stake or 4.27 crore shares. The worth of his holding was at Rs 1,325 crore on April 16. At the finish of this week, the exact same was down at Rs 1,252 crore — a loss of Rs 73 crore in just one week.
Lastly, it was Escorts that was contributing to huge bulls losses. The share price tag of Escorts tanked 8.7% this week to close at Rs 1,138 per share. Rakesh Jhunjhunwala’s 4.8% stake or 69 lakh shares of Escorts had been valued at Rs 728 crore on Friday’s closing, down Rs 69 crore from the earlier week, when the worth of his holding was Rs 798 crore.
However, it was not all doom and gloom for the ace investor. Among his a number of bets, some have even helped him make a profit for the duration of the week. Jubilant Pharmova, exactly where the Jhunjhunwala’s personal more than 1 crore shares, jumped 9.8% this week assisting the huge bull earn a profit of Rs 72 crore. Fortis Healthcare was also noticed surging larger, translating into a profit of Rs 11.88 crore for Rakesh Jhunjhunwala. One of the most current of Rakesh Jhunjhunwala unlisted bets that entered the bourses, Nazara Technologies has also zoomed this week resulting in the huge bull generating a profit of Rs 24.7 crore.