Rakesh Jhunjhunwala not proof against weak market sentiment; misplaced Rs 500 crore in three shares this week


One other Tata group agency, Tata Motors was additionally seen pulling Rakesh Jhunjhunwala’s wealth decrease this week.

Even large bull Rakesh Jhunjhunwala was not proof against losses on Dalal Avenue this week as benchmark indices fell practically 2% every. The billionaire investor misplaced Rs 506 crore in simply three shares, together with his favorite Titan Firm Restricted. The opposite two shares that contributed to this loss have been Tata Motors and Escorts. Within the holiday-shortened week, Sensex and Nifty fell on three out of 4 buying and selling periods ensuing as indices continued to stay range-bound amid rising coronavirus instances throughout the nation and elevated motion restrictions.

The heaviest loss, suffered by Rakesh Jhunjhunwala this week was in his most well-known bets, Titan Firm Restricted. The ace traders, alongside along with his spouse Rekha Jhunjhunwala, holds 4.49 crore fairness shares of the corporate or a 5.1% stake. The share worth of Titan recorded a 5.23% fall this week. With this, the worth of Rakesh Jhunjhunwala’s holding within the agency went down from Rs 6,955 crore on the finish of the earlier week to Rs 6,591 crore on Friday’s closing bell. This translated right into a lack of roughly Rs 364 crore for the large bull.

One other Tata group agency, Tata Motors was additionally seen pulling Rakesh Jhunjhunwala’s wealth decrease this week. The share worth of Tata Motors fell 5.42% this week, settling at Rs 293 per share on a closing foundation. Rakesh Jhunjhunwala invested in Tata Motors final fiscal 12 months, 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. On the finish of this week, the identical was down at Rs 1,252 crore — a lack of Rs 73 crore in only one week.

Lastly, it was Escorts that was contributing to large bulls losses. The share worth of Escorts tanked 8.7% this week to shut at Rs 1,138 per share. Rakesh Jhunjhunwala’s 4.8% stake or 69 lakh shares of Escorts have 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.

Nevertheless, it was not all doom and gloom for the ace investor. Amongst his a number of bets, some have even helped him make a revenue throughout the week. Jubilant Pharmova, the place the Jhunjhunwala’s personal over 1 crore shares, jumped 9.8% this week serving to the large bull earn a revenue of Rs 72 crore. Fortis Healthcare was additionally seen surging larger, translating right into a revenue of Rs 11.88 crore for Rakesh Jhunjhunwala. Some of the latest of Rakesh Jhunjhunwala unlisted bets that entered the bourses, Nazara Applied sciences has additionally zoomed this week ensuing within the large bull making a revenue of Rs 24.7 crore.

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