Avenue Supermarts, his flagship company and operator of D-Mart, has put the biggest dent in his fortunes during the last quarter as he held 65.2 per cent stake in the company as a promoter.
RK Damani
New Delhi: The latest round of correction has not spared even the marquee investors who lost fortunes during the sharp selloff during the first quarter of financial year 2022-23.
Seasoned investor Radhakishan Damani lost about 26,000 crore in the Q1 FY23, data from Trendlyne and corporate database Ace equity suggests. Damani's portfolio was down by another 14 per cent in the June 2021 quarter.
According to a study by Etmarkets.com, the value of his portfolio dived to Rs 1,47,534.47 crore on June 30 from Rs 1,73,822 crore on March 31, wiping out Rs 26,287.53 crore from his pocket.
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However, this study includes only those 14 shares in which Damani held 1 per cent or more stake as of March 31, 2022, as per the information available on Trendlyne.
New additions, exits or portfolio rejig has not been accounted for in the study as the information is not publically available on the platform. However, a major portion of the correction came from only one stock.
Avenue Supermarts, his flagship company and operator of D-Mart, has put the biggest dent in his fortunes during the last quarter as he held 65.2 per cent stake in the company as a promoter.
The stock tumbled more than 15 per cent during the quarter to Rs 3,396.3 from Rs 3,999.45 during the quarter. He lost about Rs 25,462.52 crore.
His other big investments, The India Cements which wiped out Rs 208 crore from his pocket as the stock plunged over 25 per cent to Rs 156.45 on June 30. Damani holds a 12.7 per cent stake in the company, according to Trendlyne.
He lost about Rs 109.50 crore from his investment in Trent as the stock plunged 16 per cent to Rs 1,074.45 during the first quarter. He holds a 1.5 per cent stake in the company.
These companies have cumulatively wiped out Rs 101 crore from Damani's kitty ranging between Rs 0.37 crore to Rs 37 crore on an individual basis.
On the contrary, four out of his 14 stocks aided his portfolio as these stocks in particular rose between 4-14 per cent during April-June 2022 period. He held 1.3-2.4 per cent stake in these companies by the end of March 2021 quarter.
The list includes Andhra Paper, Sundaram Finance Holdings, Blue Dart Express and 3M India which cumulatively added Rs 70.6 crore in his portfolio. On an individual basis the last two names individually contributed Rs 31.78 crore and Rs 36.74, respectively.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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