Rakesh Jhunjhunwala, veteran investor (Source: BloombergQuint)

How Rakesh Jhunjhunwala’s Portfolio Fared In Latest Selloff

The recent stock selloff triggered by liquidity worries in the debt market has eroded more than a tenth of the value of top bets made by billionaire investor Rakesh Jhunjhunwala.

The market value of his top 10 investments fell nearly 12.3 percent—Rs 1,300 crore— in the last one month and declined 11.4 percent—Rs 1,196 crore— in the year to date. The value of his biggest holdings now stands at Rs 9,272 crore, based on data compiled by BloombergQuint from company filings and Bloomberg.

Dewan Housing Finance Corporation Ltd., which plunged amid worries stemming from IL&FS defaults, is the worst performing stock of the month and the year so far in Jhunjhunwala’s portfolio. That cost him Rs 325 crore in just a month. For the year, Titan Company Ltd., Jhunjhunwala’s biggest bet, lost the most - Rs 418 crore.

In contrast to the performance of Jhunjhunwala’s top bets, the benchmark Nifty 50 index has returned more than 3 percent gains.

After hitting record highs this calendar year, key indices have given up gains as higher fuel prices and a weaker rupee threaten to widen India’s current account deficit and impact economic stability. Adding to that, last week the benchmark index fell more than 6 percent, on liquidity fears surrounding non-bank lenders after infrastructure lender IL&FS defaulted on loans.

Jhunjhunwala did not respond to BloombergQuint’s email queries.

RJ Portfolio: Laggards This Year

Dewan Housing Finance: The stock has fallen 50 percent on higher yields on its commercial paper.

Federal Bank: Fell 35 percent due to recent floods in Kerala, as it’s one of the largest private banks in the state.

Rallis India Ltd.: It has fallen over 29 percent as higher costs hit profitability.

How Rakesh Jhunjhunwala’s Portfolio Fared In Latest Selloff

(Prices as of Sept. 27 close)