Shares of Titan Company and Star Health and Allied Insurance Company suffered severe losses this week despite backing from renowned investor Rakesh Jhunjhunwala. Big Bull lost more than $1 billion in just 5 sessions the previous week as a result of a sharp sell-off in these Rakesh Jhunjhunwala stocks. Titan’s share price fell by Rs 108.75 per share last week, falling from Rs 2,053.50 to Rs 1,944.75 per share during the course of five trading sessions. Similar to this, another Rakesh Jhunjhunwala stock, Star Health, saw its share price fall last week by Rs 55.20 per share, from Rs 531.10 to Rs 475.90 per unit. Rakesh Jhunjhunwala owns 3,53,10,395 shares of Titan, according to the Titan Company, while his wife Rekha Jhunjhunwala owns 95,40,575 shares during the period from January to March 2022. The Jhunjhunwala pair collectively holds 4,48,50,970 shares of Titan.
Rakesh Jhunjhunwala also owns 10,07,53,935 shares of Star Health. Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala own 4,48,50,970 Titan shares, which decreased in value last week by Rs 108.75 a share. As a result of the Titan share decline, Rakesh Jhunjhunwala’s net worth decreased by about Rs 485 crore.
Rakesh Jhunjhunwala also owns 10,07,53,935 shares of Star Health, which last week fell to Rs 55.20 per share. As a result, Rakesh Jhunjhunwala’s portfolio suffered a net loss of about Rs. 555 crore as a result of the drop in Star Health shares last week.
Rakesh Jhunjhunwala’s net worth has decreased by exactly Rs 1,000 crore as a result of the recent week’s decline in the prices of Star Health and Titan shares (or around Rs 1,040 crore).
Major Rakesh Jhunjhunwala portfolio companies that ended lower last week were shares of Tata Motors, Indian Hotels Company, Rallis India, National Aluminium Company or NALCO, Canara Bank, etc.