Tata powers Rekha Jhunjhunwala's portfolio in 2024; outperforms markets

A sharp run-up by up to 27 per cent in Tata Group stocks has helped Rekha Jhunjhunwala to outperform not only the market, but also portfolio returns of the other marquee investors such as Mukul Mahavir Agarwal, Ashish Dhawan, Ashish Kacholia, Vijay Kedia and Anil Kumar Goel & Seema Goel.

Thus far in calendar year 2024 (CY24), Rekha Jhunjhunwala’s net worth increased by over 7 per cent, or Rs 2,865 crore, as compared to less than 1 per cent rise in the S&P BSE Sensex. As on March 22, 2024, the combined net worth of Rekha Jhunjhunwala has stood at Rs 41,676 crore, up 7.4 per cent, as against Rs 38,811 crore at the end of December 31, 2023.

Besides Rekha Jhunjhunwala, Chennai-based marquee investor Dolly Khanna and Mukul Mahavir Agarwal, are other marquee investors that saw their portfolio rise (up 6.5 per cent) and (1.7 per cent), respectively, during this period.

On the other hand, portfolios of Ashish Dhawan, Vijay Kedia and Anil Kumar Goel & Seema Goel have underperformed the market by falling in the range of 2 per cent to 13 per cent on account of sharp correction in smallcap stocks. Ashish Kacholia’s portfolio gained 0.1 per cent.

Rekha Jhunjhunwala, had inherited the stock portfolio from her late husband, Rakesh Jhunjhunwala, who was often referred to as India's Warren Buffett. 

Tata powers the portfolio

A large part of the gains in Jhunjhunwala's portfolio was led by a sharp rally in Tata group stocks. In four Tata Group companies, Titan Company, Tata Motors (including DVRs), Indian Hotels Company and Tata Communication, Rekha Jhunjhunwala held shares worth Rs 25,573 crore, which accounts for 61 per cent value of her total portfolio. These companies added Rs 1,652 crore in total networth gain of Rekha Jhunjhunwala during the period.

Tata Motors, which rallied 26 per cent thus far in 2024, has added Rs 1,184 crore in her total portfolio gain. Shares of Indian Hotels rallied 27 per cent, while Tata Communications gained 9 per cent and Titan Company nearly 1 per cent during the period.

Analysts remain bullish on Tata group stocks and expect them to gain further ground going ahead. Kishor Ostwal, managing director, CNI Research, for instance, expects value unlocking across the group companies, which in turn will help propel stocks higher.

“Tata group companies have high intrinsic value. There are reports of Tata Sons getting listed as well; whether that happens is still anyone’s guess. I see a lot of value unlocking across most Tata group companies, especially in Tata Motors, Tata Power, Tata Chemicals and Indian Hotels,” Ostwal said.

Besides Tata Group companies, NCC (Rs 577 crore), Canara Bank (Rs 508 crore), and CRISIL (Rs 266 crore) added more than Rs 250 crore in Jhunjhunwala’s total portfolio gain. These stocks have rallied between 15 per cent and 42 per cent. SEE PORTFOLIO

Of top 10 companies in Rekha Jhunjhunwala’s portfolio total 8 stocks have given positive returns; while Metro Brands and Fortis Healthcare recorded negative returns of 11 per cent and 4 per cent, respectively.

The figures are based on Rekha Jhunjhunwala’s holdings in companies where her stake is more than one per cent (as publicly declared to exchanges), according to figures at the end of the October–December quarter source from CapitalinePlus database.

Peers under pressure

Meanwhile, Dolly Khanna’s total net worth moved up 6.5 per cent from Rs 401 crore to Rs 427 crore in CY24 (as on March 22). Chennai Petroleum Corporation (CPCL), which accounts for 40 per cent, or Rs 172 crore of Dolly Khanna’s portfolio, has added Rs 36 crore in her overall portfolio gain.

Vijay Kedia, who invested in Atul Auto, Elecon Engineering, Tejas Networks and Vaibhav Global have seen his net worth erosion of 9 per cent or Rs 115 crore to Rs 1,126 crore.

Anil Kumar Goel & Seema Goel have collectively seen their networth erode 13 per cent, or Rs 267 crore, to Rs 1,868 crore.