Rahul Gandhi Ups Equities Game With Exposure To 25 Stocks Since Last Election
Indian National Congress leader Rahul Gandhi has no car or a house but has placed his bets in the small and mid-cap space. The Wayanad MP's current market value in his small-cap mutual fund stands at Rs 1.41 crore, which is over one-third of his allocation in his mutual funds.
Interestingly, Gandhi invests in about seven mutual funds, out of which four are schemes from HDFC Asset Management Co., according to an affidavit that was filed during his nomination for the Lok Sabha polls.
The total value has seen a decline of 26% to Rs 3.81 crore when compared to his previous mutual fund disclosure, while filing the nomination for the 2019 general election. The fall can be attributed to the shift in his investments towards the equity space.
In his equity allocation, nine out of his 25 investments worth Rs 1.01 crore are in the mid and small-cap companies, according to the affidavit filed during his nomination. This is calculated according to the market price during mid-day on Thursday.
Pidilite Industries Ltd. tops his list, with about 10% of the total allocation. This is followed by Bajaj Finance Ltd. and Asian Paints Ltd. with 9% and 7.9%, respectively. His total allocation in equity stands at about Rs 4.45 crore now. He had not owned any stocks five years ago.
To hedge against the risks involved in the small and mid-cap companies, Gandhi has about Rs 15.2 lakh in sovereign gold bonds. In terms of physical gold, he has about Rs 4.2 lakh invested in gold and other jewellery.
The Congress leader does not posses any physical assets like a car or a house, according to the affidavit.
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