Politicos win big in stocks while battling poll
May 12 2014 , New Delhi
Scores of 16th Lok Sabha aspirants have earned hefty returns on their investments in blue-chip stocks, most of which surged to new highs in the election rally.
The Indian stock market is on a roll, with the benchmark Sensex left within sniffing distance of the 23,000 mark, as equity investors, including foreign institutions, have bet big on the election catapulting a stable government to power.
Blue-chip firms like Reliance Industries, Reliance Power and TCS appear to be favourites among the rich and the powerful.
NCP supremo Sharad Pawar’s daughter and Baramati sitting MP Supriya Sule has a stock portfolio worth Rs 5.6 crore that is spread across 80 companies. United Breweries, Adani Enterprises, Coal India, Britannia Industries, DLF, Hindustan Unilever, Kingfisher Airlines and Ranbaxy are among her favourites. Her husband, Sadanand, has shareholdings in nearly 100 firms.
Film actor and BJP’s Ahmedabad East candidate Paresh Rawal has Rs 1.37 crore investment in listed firms. He has Reliance Industries shares worth Rs 45 lakh, Tata Steel scrips worth Rs 20 lakh besides small holdings in TCS, among others. Rawal’s wife, Swaroop, has a Rs 43 lakh portfolio with the biggest holding being in M&M.
Part of the Congress youth brigade, Milind Deora’s wife Poonam holds shares in nine listed companies, including Dishman Pharma, Mukta Arts, NIIT, Oberoi Realty and Adlabs Films.
Congress leader Jyotiraditya Scindia does not directly hold shares in any listed firm, but his election affidavit mentions that his daughter Ananya Raje holds stocks in several firms like CESC, CMC, Greaves Cotton, Hikal, JB Chemicals, RPG Life sciences, Sintex and Zensar Tech. Her stock portfolio is worth over Rs 8 lakh.
Mumbai North Central BJP candidate Poonam Mahajan’s husband Vajendla has modest holdings in Reliance Industries, Indiabulls Power, Kingfisher Airlines, TCS, Reliance Power and Idea Cellular, among others. Poonam mostly holds shares in unlisted entities. Shares like RIL (up 22 per cent), M&M (23 per cent), NIIT (28 per cent) and CESC (14 per cent) have logged steady returns over the past three months. RPG Lifesciences has shot up by over 50 per cent, while Indiabulls Power, Edelweiss, Reliance Power, HDFC Bank and GMR Infra have risen between 10 per cent and 30 per cent.
V Balakrishnan, former Infosys board member and Aam Aadmi Party candidate for Bangalore Central Lok Sabha seat, has a sizeable portion of his Rs 190 crore assets invested in stocks. Of this, about Rs 103 crore is the value of his equity shares in Infosys and about Rs 5.26 crore is the worth of the American depository receipts of Infosys.
Infosys co-founder and Congress candidate from Bangalore South, Nandan Nilekani, and his wife Rohini Nilekani’s fortune worth Rs 7,700 crore is almost 80 per cent from Infosys shares.
TDP’s Guntur nominee and MD of Amara Raja Batteries holds 1.28 crore shares in the company, besides small holdings in Andhra Bank, LKP Finance and Padmalaya Telefilms.