DMart’s Radhakishan Damani secures top spot among superstar investors, pips Wipro's Azim Premji in net worth
In January 2023, Premji’s net worth or portfolio value has nearly halved to Rs 1,59,973.4 crore so far this month, from Rs 3,14,909 crore in December 2022, according to the data.
Ace investor Radhakishan Damani, the owner of Avenue Supermarts -- the company that runs supermarket chain DMart, has surpassed Wipro founder Azim Premji in terms of net worth as well as portfolio value.
According to data from the stock analysis portal Trendlyne, Damani publicly holds 15 stocks in his portfolio with a net worth of Rs 1,65,663 crore, as of January 16, 2023. With three stocks in their portfolio, Premji and associates a net worth of over Rs 1,59,973.4 crore, according to the website.
Damani is a promoter of Avenue Supermarts, which has a market value of Rs 2,38,659.6 crore. He has a 67.5 per cent stake in Avenue Supermarts. He also holds stakes in a slew of companies including United Breweries, Trent, Aptech, India Cements, and VST Industries, where he holds up to 31 per cent.
Also Read: Radhakishan Damani Stock: DMart shares drop 6% as retail chain's Q3 results fail to excite Street
Eminent industrialist and philanthropist Premji has mere two stocks in his portfolio: Balrampur Chini and Tube Investments, according to data from Trendlyne. Wipro has a market capitalisation of Rs 2,19,313.4 crore.
In January 2023, Premji’s net worth or portfolio value has nearly halved to Rs 1,59,973.4 crore so far this month, from Rs 3,14,909 crore in December 2022, according to the data. On the other hand, Damani’s portfolio has shrunken in size by five per cent during this period.
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Wipro -- India’s fourth largest IT company by market value – contributes majorly to the portfolio of Premji, who holds around 73 per cent in the company, according to shareholding data available on bourses.
The stock of the IT giant was one of the top blue-chip laggards in 2022.
In the last one year, Wipro shares have lost 38 per cent of their value.
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Wipro and DMart reported their financial results during the weekend.
Wipro reported a 14.8 per cent sequential jump in net profit to Rs 3,052.9 crore for the October-December period, beating analysts' estimates. Its revenue grew 3.1 per cent to Rs 23,229 crore, against the estimate of Rs 23,280 crore by Zee Business research.
Also Read: Wipro Q3 Results: IT major beats analysts' estimates with 15% jump in profit, declares dividend
Revenue in dollar terms remained nearly unchanged at $2,803.5 million compared with the previous quarter.
DMart reported a 6.7 per cent increase in net profit to Rs 589.6 crore for the three-month period. The retail chain operator’s revenue grew 25.5 per cent to Rs 11,569.1 crore.
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