Bears shave $2 bn wealth off India Inc's GenNext
Realty king Kushal Pal Singh’s daughter Pia Singh is the biggest loser of notional wealth.
By Kumar Shankar Roy, TNN |
CHENNAI: Some may be more equal than others, but in the eyes of a bear, all are equal. While the super rich Ambani brothers, Wipro���s Azim Premji, DLF���s Kushal Pal Singh or Unitech���s Ramesh Chandra have lost substantially, albeit notional in terms of holdings in their companies, it is now beginning to bite India Inc���s Generation Next.
Wealth amounting to around $2 bn held by the young brigade has evaporated with the fall of the sensex, shows a TOI analysis of the shareholding data of the companies.
Realty king Kushal Pal Singh���s daughter Pia Singh is the biggest loser of notional wealth (Rs 3,300 crore) as measured by the difference in the market value of DLF shares held by her.
Sanjay Chandra, son of real estate magnate Ramesh Chandra, ranks 2nd on the GenNext "wealth loser list" as his 4% stake in Unitech has lost nearly Rs 3,000 crore in value from January 10. This is because the Unitech stock has shed 84% of its value since then.
Rajiv Singh, brother of Pia Singh and vice-chairman of DLF, is the third biggest loser. The DLF shares held under his name have dropped by 75% as the stock trades below the Rs 300-level , miles away from the Rs 1,142-tag 10 months ago. (K P Singh���s other daughter Renuka has lost Rs 131 crore through holdings in DLF shares.)
Wealth amounting to around $2 bn held by the young brigade has evaporated with the fall of the sensex, shows a TOI analysis of the shareholding data of the companies.
Realty king Kushal Pal Singh���s daughter Pia Singh is the biggest loser of notional wealth (Rs 3,300 crore) as measured by the difference in the market value of DLF shares held by her.
Sanjay Chandra, son of real estate magnate Ramesh Chandra, ranks 2nd on the GenNext "wealth loser list" as his 4% stake in Unitech has lost nearly Rs 3,000 crore in value from January 10. This is because the Unitech stock has shed 84% of its value since then.
Rajiv Singh, brother of Pia Singh and vice-chairman of DLF, is the third biggest loser. The DLF shares held under his name have dropped by 75% as the stock trades below the Rs 300-level , miles away from the Rs 1,142-tag 10 months ago. (K P Singh���s other daughter Renuka has lost Rs 131 crore through holdings in DLF shares.)
ADVERTISEMENT
The investor wealth, as measured by market capitalisation, of Mukesh Ambani���s children,16-year-old Isha and Akash and 12-year old Anant-is down by about Rs 700 crore as shares held directly against their name in Reliance Industries and indirectly in Reliance Industrial Infrastructure and Reliance Petroleum have tanked from the January highs. The three have lost more than the notional losses recorded by the holdings of their cousins,16-year-old Jai Anmol and 12-year-old Jai Anshul (sons of Anil Ambani), who have lost around Rs 140 crore.
Jai Anmol and Jai Anshul have direct and indirect holdings in Reliance Communications, Reliance Capital, Reliance Infrastructure and Adlabs.
Their indirect holding in Reliance Power (by virtue of stake in Reliance Infrastructure) may have exacerbated wealth losses but Reliance Power was listed in February, keeping it out of the purview of this analysis.
Wipro chairman Azim Premji���s sons Rishad and Tariq also figure among the losers, but compared to others, their losses have been limited to around Rs 20 crore.
Ananyashree, Aditya Birla Group chairman K M Birla's daughter, is luckier as she has a loss of less than Rs 1 crore. She holds stake in Hindalco, Aditya Birla Nuvo, Idea Cellular and Grasim, both directly and indirectly.
Jai Anmol and Jai Anshul have direct and indirect holdings in Reliance Communications, Reliance Capital, Reliance Infrastructure and Adlabs.
Their indirect holding in Reliance Power (by virtue of stake in Reliance Infrastructure) may have exacerbated wealth losses but Reliance Power was listed in February, keeping it out of the purview of this analysis.
Wipro chairman Azim Premji���s sons Rishad and Tariq also figure among the losers, but compared to others, their losses have been limited to around Rs 20 crore.
Ananyashree, Aditya Birla Group chairman K M Birla's daughter, is luckier as she has a loss of less than Rs 1 crore. She holds stake in Hindalco, Aditya Birla Nuvo, Idea Cellular and Grasim, both directly and indirectly.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
