32%: Jump in value of investments of ace stock-picker Rakesh Jhunjhunwala and family since the start of this financial year.
- The portfolio of Jhunjhunwala and family has surged past the Rs 10,000-crore mark, rising by Rs 2618 crore since April 2020.
- While his stake in Titan Company and Escorts, besides 16 other companies, remained unchanged during this period, Rallis India, Escorts, Jubilant Life Sciences and CRISIL helped Jhunjhunwala’s portfolio beat market returns at the index level.
- These stocks collectively added half (Rs 1,234 crore) of the portfolio’s total gains made during the period.
- Titan, meanwhile, underperformed the market, gaining 8.7%, against a 28.7% surge in the BSE Sensex.
A few links for further reading
Insecure and uncertain in insurance business as Covid-18 damage claims mount
Insurance companies around the world were sailing smoothly, helped by growth in emerging markets and strong capitalisation. Things changed in late February when markets realised that Covid-19’s impact on insurers could be significant. Insurers are yet to know the full impact of the crisis as governments and regulators nudge them to give moratoriums to policyholders and quickly settle claims too. India’s insurance regulator has set strict deadlines for medical insurers to settle Covid-19 claims. General insurers face damage claims from businesses devastated by the national lockdown to contain the disease. Is insurance secured to survive, Joydeep Ghosh explains
There was a time when pay cuts we see today were a complete no-no; govt and public sector jobs were considered safe, as pay and pensions were both assured. Not any longer, it seems, writes T N Ninan
Quick approval, grace period
The COVID-19 pandemic has brought home the significance of health and life insurance like nothing else earlier. Even those who were blasé about these covers in the past are now looking to buy a new policy or want to enhance the sum insured on their existing ones. Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing a slew of guidelines to health/general and life insurance companies aimed at easing matters for customers.