India’s wealthiest investors lose money! Despite the Nifty's 3% gain in the March quarter, seven of India's top 10 wealthiest individual investors experienced a decrease in their wealth, according to data from primeinfobase.com. However, the Jhunjhunwala family's wealth in listed firms surpassed Rs 50,000 crore for the first time during this period, and approximately 17 individuals held portfolios valued at over Rs 1,000 crore as of March 31, 2024.
According to an ET report quoting primeinfobase.com data, veteran investment banker Hemendra Kothari's holdings declined by 23% to Rs 7,656 crore, largely due to a 29% drop in the shares of his top holding, Alkyl Amines, in which Kothari and his family members hold a 72% stake as promoters.
Other investors, including Akash Bhansali, Mukul Agrawal, Ashish Dhawan, Nemish Shah, and Yusuffali Abdul Kader, saw their wealth decrease by 1-3% during the same period.
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Anil Kumar Goel, a Chennai-based value investor, experienced a 14% reduction in his portfolio, primarily due to substantial declines in the stock prices of Magadh Sugar and Avadh Sugar, which fell by more than 20%.
Conversely, DMart founder Radhakishan Damani, known for his astute investing, saw his wealth increase by 9.5% to Rs 2.04 lakh crore during the March quarter. The Jhunjhunwala family's portfolio grew by 2% to Rs 50,897 crore, with Titan shares accounting for Rs 18,000 crore of their holdings as of March 31, 2024.
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In the fiscal year ending March 2024, all investors, except for Hemendra Kothari, witnessed significant gains. Mukul Agarwal topped the list with an impressive 86% return, trailed by Akash Bhansali with 61%, and the Jhunjhunwala family with 57%. These returns were calculated based on their shareholdings in listed companies, where they maintain at least a 1% stake.
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