Most top Indian investors see their net worth fall in the July-September quarter

The net worth of most of India’s richest individual investors fell in the July-September quarter as market declines eroded the values ​​of several portfolios. Benchmark Nifty ended 2.9% and 1.4% lower in July and August, but recovered 0.8% in September. The Nifty Midcap 150 and Smallcap 250 indices fell 4.3% and 6.2% respectively between July and September, while the benchmark Nifty fell 3.6% during the same period.

The holdings of investors including Ashish Kacholia, Mukul Agrawal, Hemendra Kothari and Anil Goel fell between 10% and 29%. Nemish Shah’s portfolio was a standout in an otherwise weak market, gaining nearly 48%, according to a study based on data from primeinfobase.com.

Portfolio values ​​were calculated for their holdings exceeding 1% of the companies’ share capital. Shah increased his stake in LMW and Asahi India Glass and reduced his stake in Elgi Equipments, Bannari Amman Sugars, Zodiac Clothing Company and Vascon Engineers. Vijay Kedia and Madhusudan Kela posted gains of 5.9% and 0.2% respectively.

Vijay Kedia increased his stake in six stocks including Atul Auto, Neuland Laboratories and Sudarshan Chemical. He sold his stakes in Elecon Engineering, Vaibhav Global, Repro India and Om Infra, among others. Madhusudan Kela increased his ownership stake in Choice International, Rashi Peripherals, SG Finserve, Iris Business Services and Unicommerce eSolutions. Most other top investors witnessed a decline in portfolio returns in the September quarter.

Inventurus Knowledge Solutions, Titan and Metro Brands were the top-ranked securities in the portfolio of top investor late Rakesh Jhunjhunwala. His family’s wealth fell 3.5% this quarter. The Jhunjhunwala family cut exposure to 17 stocks, including Titan, Inventurus Knowledge Solutions and Concord Biotech, along with Crisil and Wockhardt. Akash Bhansali’s top-ranked investments were in Gujarat Fluorochemicals, Sudarshan Chemical Industries and One 97 Communications, which saw losses of almost 3%. Mukul Agrawal has cut his stakes in 36 companies this quarter, while Anil Goel and Ashish Kacholia have cut their stakes in 22 and 14 companies respectively during the same period.