7 out of 10 richest investors’ wealth declined in Q4.

While turbulence gripped the market in the March quarter, notable Indian investors Radhakishan Damani and the Jhunjhunwala family emerged as shining stars, defying the prevailing trend of wealth decline, as reported by The Economic Times citing data from primeinfobase.com.

In a landscape where seven of the top 10 wealthiest individual investors in India witnessed a decrease in their wealth during this period, the portfolios of Damani and the Jhunjhunwala family stood tall.

The Jhunjhunwala family’s wealth in listed companies breached the Rs 50,000 crore milestone for the first time, a testament to their astute investment strategies. Remarkably, approximately 17 individuals boasted portfolios exceeding Rs 1,000 crore as of March 31, 2024.

Despite market headwinds, veteran investment banker Hemendra Kothari experienced a 23% decrease in holdings’ value, primarily attributed to a 29% decline in shares of his top holding, Alkyl Amines, where Kothari and his family command a 72% stake as promoters.

Similarly, investors like Akash Bhansali, Mukul Agrawal, Ashish Dhawan, Nemish Shah, and Yusuffali Abdul Kader witnessed marginal declines ranging from 1% to 3% in their wealth during the March quarter.

Anil Kumar Goel, the Chennai-based value investor, saw a 14% decrease in portfolio value, mainly due to drops in stock prices of Magadh Sugar and Avadh Sugar, both declining over 20%.

However, bucking the trend, Radhakishan Damani, renowned for his investment prowess and founder of DMart, witnessed a 9.5% increase in wealth, reaching Rs 2.04 lakh crore during the March quarter.

Similarly, the Jhunjhunwala family’s portfolio saw a 2% growth to Rs 50,897 crore, with Titan shares contributing significantly, accounting for Rs 18,000 crore of their holdings as of March 31, 2024.

Sachin Bansal, co-founder of Flipkart, experienced an 11% rise in his portfolio to Rs 1,177 crore during the quarter, with SML Isuzu, JK Tyres, and Birla Corp as top holdings.

Looking at the fiscal year ending March 2024, except for Hemendra Kothari, all investors witnessed gains. Mukul Agarwal led with an impressive 86% return, followed by Akash Bhansali with 61% and the Jhunjhunwala family with 57%.

These portfolios are rooted in their significant shareholdings in listed companies, where they maintain at least a 1% stake, showcasing their enduring influence and strategic foresight in navigating the complexities of the market.