 "Top wealth creators in India: Ashish Kacholia, Mukul Agrawal lead 2024")
Several prominent investors have significantly increased their wealth in 2024, positioning themselves among the top 15 wealthiest individual investors in India, Moneycontrol reported citing data from PrimeInfobase.
Ace investor Ashish Kacholia witnessed a remarkable 88 per cent growth in his portfolio, which surged from Rs 1,191 crore in December 2023 to Rs 2,247 crore by December 17, 2024. This impressive rise places him among the leading wealth creators in the country.
Investor Mukul Agrawal’s wealth has grown by 46 per cent, reaching Rs 6,909 crore from Rs 4,741 crore in the same period. Similarly, investor Akash Bhanshali’s portfolio expanded by 43 per cent, growing from Rs 5,554 crore to Rs 7,933 crore.
Other key gainers
Other investors who have seen significant growth include Anuj Sheth, Yusuffali Abdul Kadar, Nemish Shah, and Ashish Dhawan, with their portfolios increasing by 25 per cent to 30 per cent during the year.
The Jhunjhunwala family’s wealth in listed companies saw a modest rise of 3 per cent, reaching Rs 52,948 crore. Gains from smaller holdings like Indian Hotels, Jubilant Pharmova, VA Tech Wabag, and Wockhardt helped offset losses from major investments such as Titan, Star Health, and Tata Motors. Shares of Titan and Star Health declined by over 7 per cent, and 11 per cent, respectively, while Tata Motors experienced a slight increase of 0.6 per cent.
Declines in wealth for veterans
Veteran investor Hemendra Kothari faced significant losses, with stocks like Alkyl Amines Chemicals and Sonata Software falling by 25 per cent, and 10 per cent, respectively. This led to a substantial erosion of his wealth in 2024.
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Radhakishan Damani also saw a 20 per cent decline in his portfolio, which dropped from Rs 2 trillion in December 2023 to Rs 1.63 trillion. This drop is attributed to a correction in Avenue Supermarts’ stock price and reduced holdings in VST Industries.
The rankings and portfolio calculations are based on shareholding data for the September 2024 quarter, compared with data from the quarter ending December 31, 2023. The stock prices for this year are as of December 17, 2024.