Major Indian Investors Face Portfolio Losses Amid Market Correction
India's ace investors lose big in March quarter; only Damani escapes with gains
Image: Moneycontrol
In the January-March quarter, prominent Indian investors, including Hemendra Kothari and Mukul Agrawal, experienced significant portfolio declines due to a broad market correction, with the Sensex and Nifty down 15%. Only Radhakishan Damani managed to record gains, increasing his portfolio value to ₹1.76 lakh crore.
- 01Hemendra Kothari and Mukul Agrawal each suffered a 26% decline in portfolio value.
- 02Madhusudan Kela's portfolio decreased by 21%, despite adding three new stocks.
- 03Nimesh Shah and Ashish Kacholia saw declines of 19% and 17% respectively, with Shah's portfolio falling to ₹2,828 crore.
- 04Radhakishan Damani was the only investor to gain, with a 4% increase in portfolio value.
- 05The broader market sell-off was influenced by global volatility and rising crude oil prices.
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During the January-March quarter, India's leading individual investors faced substantial losses due to a widespread market correction. Investors such as Hemendra Kothari and Mukul Agrawal reported a 26% decline in their portfolios, with Kothari's holdings dropping from ₹6,033 crore to ₹4,482 crore. Agrawal's portfolio also fell from ₹6,250 crore to ₹4,648 crore as he adjusted his stock positions. Madhusudan Kela experienced a 21% decrease, while Nimesh Shah and Ashish Kacholia saw declines of 19% and 17% respectively. In contrast, Radhakishan Damani emerged as an outlier, achieving a 4% gain, raising his portfolio to ₹1.76 lakh crore. The overall market correction was exacerbated by geopolitical tensions involving the US, Iran, and Israel, along with rising crude oil prices, leading to a 15% drop in both the Sensex and Nifty indices. Smaller investors also felt the impact, with Tejas Trivedi suffering the largest loss at 33%.
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The significant losses among high-profile investors may affect market confidence and investor sentiment in India.
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