Despite the Nifty rising 3% in the March quarter, seven of India's top ten wealthiest individual investors suffered a decrease in their wealth, according to statistics from primeinfobase.com.
As of March 31, 2024, around 17 people had portfolios worth over ₹1,000 crore, and the Jhunjhunwala family's fortune in listed enterprises had exceeded the ₹50,000 crore threshold for the first time.
Veteran investment banker Hemendra Kothari's holdings had a 29% loss in the value of their main asset, Alkyl Amines, which caused the holdings' value to drop by 23% to ₹7,656 crore during the March quarter.
As promoters, Kothari and his family own around 72% of the business. Comparably, during the March quarter, the wealth of investors like Yusuffali Abdul Kader, Ashish Dhawan, Nemish Shah, Mukul Agrawal, and Akash Bhansali decreased by one to three percent.
Value investor Anil Kumar Goel, headquartered in Chennai, saw a 14% decline in his portfolio, mostly as a result of the substantial declines in the stock prices of Avadh Sugar and Magadh Sugar, which fell by more than 20%.
However, Radhakishan Damani, the founder of DMart and a renowned investor, experienced a 9.5% increase in his wealth to 2.04 lakh crore in the March quarter. As of March 31, 2024, the Jhunjhunwala family's portfolio had grown by 2% to 50,897 crore, with Titan shares making up 18,000 crore of their assets.
