Wealth Erosion: How Portfolios of Radhakishan Damani, Jhunjhunwala Family, Vijay Kedia, and Others Fared During Market Correction
Wealth Erosion : The Indian stock market has been on a rollercoaster ride since the end of September, with benchmark indices Sensex and Nifty plunging over 12 percent. The BSE MidCap and SmallCap indices have fared even worse, falling by more than 20 percent. This correction has not spared even the wealthiest of investors, including prominent names like Radhakishan Damani, the Jhunjhunwala family, and Vijay Kedia.
According to data from Primeinfobase.com, several high-profile investors have witnessed substantial declines in their portfolios, ranging from 10 to 32 percent. In contrast, a few have managed to defy the downturn, posting gains or relatively stable figures. Let’s take a closer look at how these portfolios have performed and the key drivers behind their fluctuations.
Major Declines Amid Market Correction
1. Sachin Bansal, Vijay Kedia, and Hitesh Doshi
The portfolios of Sachin Bansal, Vijay Kedia, and Hitesh Doshi have seen the sharpest declines, dropping by 30 to 32 percent since the September quarter. This mirrors the broader market trend, with heavy corrections across MidCap and SmallCap stocks.
2. Radhakishan Damani
D-Mart founder Radhakishan Damani’s portfolio has declined by 28 percent, largely due to a drop in Avenue Supermart’s stock price. Despite this setback, there are signs of recovery in early 2025, driven by improved earnings.
3. Hemendra Kothari and Vishwas Patel
Hemendra Kothari’s portfolio fell by 29 percent, while Vishwas Patel’s holdings decreased by 27 percent, reflecting the bearish sentiment in the market.
4. Anil Goel and Anuj Sheth
Anil Goel and Anuj Sheth both experienced a 24 percent decline in their portfolios. This was primarily due to corrections in key holdings, impacted by the overall market downturn.
5. Rajesh Kumar and Bhavook Tripathi
Rajesh Kumar and Bhavook Tripathi faced a 23 percent drop in their portfolios. Tripathi, in particular, was affected by his concentrated position in R Systems International, which saw a sharp decrease in value from Rs 1,600 crore at the June peak to about Rs 900 crore currently.
Investors Who Defied the Market Trend
1. Manish Jain
Manish Jain’s portfolio surged by around 33 percent, primarily due to his stake in Enviro Infra Engineers, which had a successful IPO listing in November. However, his other holdings, including Linde India, Career Point, Magnum Ventures, and Gandhi Special Tubes, declined by 25 to 35 percent since September’s peak.
2. Jhunjhunwala Family
The Jhunjhunwala family’s portfolio rose by 7 percent, thanks to the listing of Inventurus Knowledge Solutions, in which they hold a significant stake worth over Rs 14,000 crore. However, other holdings like Titan, Star Health & Allied, Metro Brands, Tata Motors, and Fortis Healthcare faced sharp corrections.
3. Sanjiv Shah
Sanjiv Shah’s portfolio grew by 6 percent, reflecting a strategic allocation that effectively navigated the market volatility.
4. Mukul Agrawal
Mukul Agrawal’s portfolio increased by 4 percent since its June peak, driven by the remarkable rise in BSE Ltd stock, which has more than doubled since June. However, his other holdings, including Nuleand Lab, Radico Khaitan, and Nuvama Wealth, experienced significant declines.
5. Anuj Sheth and Tejas Trivedi
- Anuj Sheth saw a 12 percent rise, attributed to gains in Asahi India Glass, Bannari Amman Sugars, and Arihant Capital Markets, despite corrections in other holdings like Finolex Industries.
- Tejas Trivedi’s portfolio edged up by 2 percent, mainly due to a nearly 15 percent rise in Astrazeneca Pharma India since June.
Notable Exits and Losses
1. Hitesh Doshi
Hitesh Doshi’s portfolio plummeted by over 56 percent as he exited holdings in EID Parry, Hindustan Oil Exploration, and Kalyani Investment. His current stake includes Aditya Birla Real Estate and Swelect Energy Systems.
2. Sachin Bansal
Sachin Bansal saw a 50 percent drop from his June peak, largely due to his exit from Venky’s India. His remaining investments in SML Isuzu, JK Lakshmi Cement, and Liberty Shoes also faced corrections exceeding 30 percent.
Financial Ratios and Performance Overview
Here’s how the portfolios of some of these prominent investors fared in terms of key financial ratios:
| Investor | Portfolio Change (%) | Key Holdings | P/E Ratio | Dividend Yield (%) |
|---|---|---|---|---|
| Radhakishan Damani | -28% | Avenue Supermart | 97.50 | 0.13 |
| Jhunjhunwala Family | +7% | Titan, Star Health, Tata Motors | 80.20 | 0.60 |
| Manish Jain | +33% | Enviro Infra Engineers, Linde India | 48.30 | 0.45 |
| Sachin Bansal | -50% | SML Isuzu, JK Lakshmi Cement | 18.90 | 1.50 |
| Hitesh Doshi | -56% | Aditya Birla Real Estate, Swelect Energy | 15.40 | 2.10 |
Conclusion
The recent market correction has highlighted the volatility and risk associated with equity investments, even for seasoned investors. While some portfolios have faced severe wealth erosion, others have managed to navigate the downturn through strategic stock selections and timely exits.
For retail investors, the key takeaway is the importance of diversification and a long-term investment horizon to weather market fluctuations. As the market continues to evolve, it remains crucial to stay informed and make data-driven investment decisions.
For more market insights, follow our news.
Stay tuned for more updates and insights on the stock market! For more insights on investing in the Indian stock market, check out resource like ET, NSE India.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.