Equity investors have suffered heavily this week due to the Corona epidemic. The fall in the stock market had an impact not only on small investors but also on veteran investor Rakesh Jhujhunwala. This week, the benchmark indices fell by 2 per cent, due to which the investors have suffered a lot. Billionaire investor Jhunjhunwala has suffered a loss of Rs 506 crore this week due to the fall in just three stocks. His favorite among the three stocks is Titan Company Limited. Apart from Titan, Jhunjhunwala’s assets declined due to the fall in Tata Motors and Escorts. Sensex and Nifty declined in three business days in this four days when the business was closed for four days and one day the market was closed. The market fell due to rising cases of corona infection across the country and the restriction imposed by the states.
NV Raman becomes the 48th Chief Justice of the country, will hold office for 16 months
506 crores lost in these three stocks
- Jhunjhunwala suffered the most losses this week due to the fall in Titan Company. Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have a 5.1 per cent (4.49 crore shares) stake in the company. Titan shares weakened 5.23 per cent this week, due to which Rakesh Jhunjhunwala’s holding in the company fell from Rs 6955 crore to Rs 6591 crore. Thus, Jhunjhunwala suffered a loss of Rs 364 crore due to the fall in Titan.
- Tata Motors, another Tata group company, also declined this week. Tata Motors shares fell 5.42 per cent this week and its share price reached Rs 293. His stake in Tata Motors on April 16 stood at Rs 1325 crore, which by the end of this week had fallen to just Rs 1252 crore, meaning that he lost Rs 73 crore in just one week.
- Escorts shares fell 8.7 per cent this week and reached Rs 1138 per share. Rakesh Jhunjhunwala has a 4.8 per cent stake (6.9 million shares) in this company. When the market closed on Friday, its total value stood at Rs 728 crore while at the beginning of the week it was Rs 798 crore.
These shares increased Jhunjhunwala’s wealth
It is not that this week’s fall has cut Jhunjhunwala’s assets but some stocks have increased the wealth of the veteran investor. Rakesh Jhunjhunwala owns 1 crore shares of Jubilant Pharmova and with a gain of 9.8 per cent, he earned a profit of Rs 72 crore. Apart from this, he earned a profit of Rs 11.88 crore in Fortis Healthcare. Apart from this, Jhunjhunwala made a profit of Rs 24.7 crore from the recently listed market technologies.