BackRakesh Jhunjhunwala's net worth dips ₹425 crore in one day due to these two stocks
Rakesh Jhunjhunwala and Rekha Jhunjhunwala lost around ₹426 crore on Friday after fall in his two portfolio stocks — Titan Company and Star Health Insurance
PremiumRakesh Jhunjhunwala portfolio: It's a myth that market magnets don't lose money. They also lose money and they incur loss in sync with their name and status. Its glaring example is Rakesh Jhunjhunwala, who has lost around ₹426 crore on Friday after fall in his two portfolio stocks — Titan Company and Star Health Insurance. Amid falling markets after surge in US inflation, Titan Company Titan share price dipped ₹53.20 apiece on Friday whereas Star Health Insurance share price went off ₹18.55 per share.
As Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala are ace investors in these companies, slide in these stock led to huge dip in Rakesh Jhunjhunwala's net worth and Rekha Jhunjhunwala's net worth.
Rakesh Jhunjhunwala, Rekha Jhunjhunwala holding in Titan Company
According to Titan Company shareholding pattern for October to December 2021 quarter, Rakesh Jhunjhunwala holds 3,57,10,395 shares, which is 4.02 per cent of the total issued paid-up capital of the company. Similarly, Rekha Jhunjhunwala holds 95,40,575 Titan shares or 1.07 per cent stake in the company. So, Jhunjhunwalas together hold 5.09 per cent or 4,52,50,970 shares.
Rekha Jhunjhunwala, Rakesh Jhunjhunwala holding in Star Health Insurance
According to Star Health Insurance shareholding pattern for Q3FY22, both Rakesh Jhunjhunwala and Rekha Jhunjhunwala holds 10,07,53,935 shares, which is 17.50 per cent of the total issued paid-up capital of Star Health Insurance company.
Dent in Rakesh Jhunjhunwala, Rekha Jhunjhunwala's net worth
As Titan Company shares dipped ₹53.20 per share on Friday and Jhunjhunwalas hold 4,52,50,970 Titan Company shares, dent to Rakesh Jhunjhunwala and Rekha Jhunjhunwala's net worth due to fall in Titan share price on Friday is around ₹240 crore.
Similarly, Jhunjhunwalas hold 10,07,53,935 Star Health shares and the stock fell ₹18.55 per share on Friday, net loss in Jhunjhunwala's net worth after this fall comes around ₹186 crore.
So, net plunge in Jhunjhunwalas' net worth is ₹426 crore ( ₹240 + ₹186).
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