Mumbai: Rakesh Jhunjhunwala, the big bull of Dalal Street, has seen value erosion of over $200 million or Rs 1,478 crore since November 1, 2016 on his portfolio. This does not include the value erosion on the investments in his recent top pick DLF, which is down over 30% in the last 15 days, as his exact holding in the company is not public.
Maximum wealth erosion in terms of value for Jhunjhunwala has been in Tata group owned jewellery company Titan, which saw share price fall 15% since the beginning of the month, leading to a total value erosion of Rs 397 crore.From the peak in August this year, Jhunjhunwala’s holding value in the company is down by Rs 840 crore. Holding value in the other Tata Group stocks such as Tata Motors and Rallis have also come down significantly.
In terms of percentage, the biggest loser in the big bull’s portfolio is the casino company Delta Corp, whose shares plummeted over 40% in the last 15 days.
Jhunjhunwala was bullish on the Indian real estate sector. Other than DLF, he holds 3.2% in Dewan Housing Finance, which lends money to the real estate de velopers and home buyers. The stock tanked 28% in the last 15 days, wiping out al most Rs 100 crore for the big bull.
Other real estate stocks in his port folio include Delhi-based Mumbai-based D B Anant Raj and Mumbai-based D B Realty and Man Infraconstructions, stocks down 15% to 33% in the last 15 days. The only exceptions in his portfolio are MCX and CRISIL, which have remained flattish in a falling market. He owns 3.94% and 1.7% in the two companies, respectively.