Top individual investors see mixed fortunes in December quarter

India’s top individual investors saw mixed fortunes in the December quarter, with some portfolios posting gains, while others witnessed a decline in value as the stock market drifted higher in rollercoaster trading during this period. The listed holdings of investors, including Ashish Dhawan, Hemendra Kothari, Vijay Kedia, Madhusudan Kela, and Akash Bhanshali, fell between 3% and 19% during the period. In contrast, Nemish Shah, Ashish Kacholia, Mukul Agrawal, Anil Kumar Goel, and the late Rakesh Jhunjhunwala’s family posted gains ranging between 2% and 11%, according to a study based on data from primeinfobase.com.

Benchmark indices moved in different directions during the quarter. The Nifty and the Nifty Midcap 150 index rose around 6% between October and December, while the Nifty Smallcap 250 index slipped 0.05% during the same period.

Portfolio values were calculated for holdings where these investors owned more than 1% equity in the companies during the quarter. Nemish Shah’s portfolio rose 10.1% in the December quarter.

He increased his holdings in LMW, Asahi India Glass, and Vascon Engineers, while reducing stake in Elgi Equipments, Bannari Amman Sugars, and Zodiac Clothing Company.
Holdings of Ashish Kacholia and Mukul Agrawal posted gains of 7.6% and 5.7%, respectively. Kacholia raised his stake in 10 stocks, including Shaily Engineering Plastics, Knowledge Marine & Engineering Works, Zaggle Prepaid, Beta Drugs, and Carysil.

Agrawal increased his ownership in 23 stocks and reduced exposure in 36 during the quarter. Neuland Laboratories, Radico Khaitan, and Zota Health Care were the top holdings in his portfolio. Titan, Inventurus Knowledge, and Metro Brands were the top listed securities in the portfolio of the late Rakesh Jhunjhunwala.
His family’s holdings rose 2.4% during the quarter. The Jhunjhunwala family reduced exposure in 16 stocks, including Metro Brands, Concord Biotech, Fortis Healthcare, Tata Motors PV, Crisil, NCC, Jubilant Pharmova, and Indian Hotels. Among those who saw declines, Ashish Dhawan’s portfolio dropped 19.1%, while Hemendra Kothari’s fell nearly 14% in the December quarter.