Damani’s Portfolio Stocks Fall Upto 53% YTD, Wipe Out a Chunk of His Wealth

By Malvika Gurung

Investing.com -- The calendar year 2022 is mired by sell-offs in global growth stocks and soaring inflation figures, along with the Russia-Ukraine crisis souring the market environment, leading to a slowdown in the global economy. 

In order to tame flying multi-year high inflation, central banks all around are raising interest rates, pushing investors to withdraw funds from emerging markets like India.

Due to rising sell-offs in the domestic market, ace investor Radhakishan Damani’s wealth has tumbled nearly 25% so far in the year.

The veteran investor has held over a 1% stake in 14 listed companies, with a net worth of over Rs 1,57,872 crore, as per Trendlyne data, of which, he holds a 65.2% in the retail major DMart Ltd (NS: AVEU ), worth Rs 1.47 lakh crore currently.

Dmart’s value has fallen 25% on a YTD basis.

Another major holding of the superstar investor includes a 32.5% stake owned in the conglomerate VST Industries (NS: VSTI ), worth Rs 1,619.2. However, the company’s shares have risen marginally by 1% in 2022.

Next, Damani holds an 11.3% stake in the cement manufacturer India Cements (NS: ICMN ), amounting to Rs 642.3 crore. The stock has corrected 17% YTD, adding pressure to Damani’s net worth.

Further, the diagnostics chain Metropolis Healthcare, in which Damani holds a 1.1% stake, has plunged the most by 53% in 2022, while other portfolio stocks like 3M India (NS: TMIN ), Trent (NS: TREN ), Blue Dart Express (NS: BLDT ), Sundaram Finance (NS: SNFN ), and Mangalam Organics (NS: MANG ), among others, have nosedived up to 53% on a YTD basis.