First time in two years! Radhakishan Damani surpasses Wipro founder Azim Premji in net portfolio worth in June 2022 quarter

As of Tuesday, the owner of retail chain DMart under Avenue Supermarts Radhakishan Damani has a net worth of over Rs 175,454.5 crore against Azim Premji’s net worth of Rs 172,432.3 crore.

Rk Damani has about 14 stocks in his bucket, while Azim Premji has 3, with promoter holdings in Wipro: Zee Business

For the first time in two years, celebrity investor Radhakishan Damani has surpassed the former chairman of IT giant Wipro Azim Premji in terms of net portfolio worth during the June quarter as of August 2, 2022, a stock analysis website trendlyne.com showed.

As of Tuesday, the owner of retail chain DMart under Avenue Supermarts Radhakishan Damani has a net worth of over Rs 175,454.5 crore against Azim Premji’s net worth of Rs 172,432.3 crore. The former has about 14 stocks in his bucket, while the latter has 3, with promoter holdings in Wipro.

Premji, who is also a philanthropist, has been at the number position in the superstar investors category, followed by Damani at second for the last 7 quarters. In June 2020 quarter, Damani’s net worth, which was Rs 101,751.9 crore swelled by a few hundred crores over Premji’s net portfolio worth of Rs 93,320 crore.

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In the last two years, the share price of DMart has more than doubled from Rs 2,139 levels at the start of August 2020 versus Tuesday’s closing at Rs 4,250. On the contrary, Wipro’s share price jumped over 50 per cent during the same period.

In comparison, the benchmark indices – BSE Sensex and Nifty50 – gained almost 53 and 55 per cent in the last two years.

Both holding companies of Damani and Premji -- DMart and Wipro, respectively, fall under the large-cap category with a market capitalization of about Rs 2.76 lakh crore and Rs 2.35 lakh crore as of today.

In June 2022 quarter, both the renowned investors have kept their portfolios mostly unchanged with minor rejig. Both investors have slashed minute stakes from their holding companies DMart and Wipro during the quarter.

Damani has added a 0.02 per cent stake in United Breweries and cut 0.09 holding in Metropolis; on the other hand, Premji has made a fresh entry in sugar stock Balrampur Chini by picking about 1.24 per cent stakes in the company as per respective June holding patterns of the companies.

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