How did India's wealthiest investors perform in June quarter?

Synopsis

India's wealthiest investors witnessed a surge in their net worth during the June quarter, fueled by a stock market rebound. Portfolios of figures like the Jhunjhunwala family and Mukul Agrawal saw gains between 12% and 42%. Conversely, Madhusudan Kela and Vijay Kedia experienced portfolio value declines as they strategically reduced exposure to certain stocks.

The net worths of some of India’s wealthiest individual investors jumped in the June quarter as the stock market rebound helped portfolios recover from sharp cuts in January-March.

The holdings of investors, including the Late Rakesh Jhunjhunwala’s family, Mukul Agrawal, Hemendra Kothari, Nemish Shah and Anil Goel gained between 12% and 42%, while the value of the portfolios of Madhusudan Kela and Vijay Kedia fell as they trimmed exposure to some stocks, according to a study based on data from primeinfobase.com.

Agencies

Portfolio values were calculated for their holdings that exceeded 1% of equity in the companies. A stake falling below 1% does not necessarily mean an exit; it simply drops off the list of mandatory public shareholder disclosures.

Between March and June, Nifty gained 8.5% while Nifty mid-cap 150 and small-cap 250 indices were up 15% and 17.8%, respectively. Some investors shuffl ed their holdings during the quarter.

For instance, Mukul Agrawal increased stakes in six stocks, including Wendt (India), Tatva Chintan Pharma, and Jammu & Kashmir Bank. He pared his holdings in Zota Health, Infobeans Tech, Tracxn Tech and Sula Vineyards.

The Jhunjhunwala family cut exposure to Nazara Tech, while Madhusudan Kela reduced his stakes in Choice International, Indostar Capital Fin, Nazara Tech, Waaree Energies, Samhi Hotels, Prataap Snacks

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