Rakesh Jhunjhunwala Lost Rs 500 Crore in Three Stocks This Week
The benchmark indices fell nearly 2% each, taking big bull Rakesh Jhunjhunwala along. The billionaire investor lost Rs 506 crore in just three stocks, including Titan Company Limited, Tata Motors and Escorts. The Sensex and Nifty fell on three out of four trading sessions resulting as indices continued to remain range-bound amid rising coronavirus cases across the country and increased movement restrictions.
Titan Company Limited -
The ace investor, along with his wife Rekha Jhunjhunwala, holds 4.49 crore equity shares of the company or a 5.1% stake. The share price of Titan recorded a 5.23% fall this week. With this, the value of Rakesh Jhunjhunwala’s holding in the firm went down from Rs 6,955 crore at the end of the previous week to Rs 6,591 crore on Friday’s closing bell. This translated into a loss of roughly Rs 364 crore for the big bull.
Tata Motors -
The share price 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, picking up a 1.3% stake or 4.27 crore shares. The value of his holding was at Rs 1,325 crore on April 16. At the end of this week, the same was down at Rs 1,252 crore — a loss of Rs 73 crore in just one week.
The share price 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 were valued at Rs 728 crore on Friday’s closing, down Rs 69 crore from the previous week, when the value of his holding was Rs 798 crore.
However, among his multiple bets, some have even helped him make a profit too. Jubilant Pharmova, where the Jhunjhunwala’s own over 1 crore shares, jumped 9.8% this week helping the big bull earn a profit of Rs 72 crore. Fortis Healthcare was also seen surging higher, translating into a profit of Rs 11.88 crore for Rakesh Jhunjhunwala. Nazara Technologies has also zoomed this week resulting in the big bull making a profit of Rs 24.7 crore.