This week Rakesh Jhunjhunwala has lost more than 500 crores due to investment in three shares.
Titan has suffered the most damage.
No investor is left untouched by the fall in the market due to Corona. In such a situation, investors need to be cautious. The country’s famous investor Rakesh Jhunjhunwala has lost Rs 506 crore from three stocks this week. On a weekly basis, the Sensex has registered a decline of about 2 per cent this week. For the last two weeks, the stock market has been closing down continuously. In the previous week, the Sensex had recorded a net loss of 2.39 per cent. This week it has closed at the level of 47878.
According to the report of Financial Express, Rakesh Jhunjhunwala has lost Rs 506 crore in only three shares this week. These three stocks are Titan, Tata Motors and Escorts. Jhunjhunwala has suffered the most in Titan Company. He played a big bet on this company. Jhunjhunwala and his wife Rekha hold a 5.1 per cent stake (4.49 crore shares) in this company. Titan’s stock has fallen by 5.66 percent this week. After the fall, Jhunjhunwala’s holding fell by Rs 364 crore to Rs 6591 crore. Its stock had fallen by 2.70 per cent in the previous week also. The closing price of this week was Rs. 1468.
Fall in TATA Motors
Jhunjhunwala has also invested heavily in TATA Motors, another Tata group company. The stock has fallen by 5.16 per cent this week. Its closing price was Rs 293 in the last trading session. He has a 1.3 stake in the company. The price of 4.27 crore shares has fallen by 73 crores and it has come down to 1252 crores. The stock of Tata Motors has been witnessing a decline for two consecutive weeks. The stock had lost 2.58 per cent in the previous week. Tata Motors has a 52-week high of Rs 357 and a minimum of Rs 74.
Escorts stock performance
The stock of Escorts has been witnessing a decline for the past three weeks. Its shares fell 8.70 per cent this week, 1.65 per cent in the previous week and 0.49 per cent in the previous week. The closing price of this week is 1138 rupees. Rakesh Jhunjhunwala holds a 4.8 per cent stake in the escort. The price of 69 lakh shares has dropped by 69 crores this week and now its value has come down to Rs 728 crores. Escorts Ltd. The 52-week high of the stock is Rs 1468 and the lowest level is Rs 667.
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