NEW DELHI: Congress leader Rahul Gandhi does not own shares of Reliance Industries Limited and any Adani Group company even as a huge portion of his assets is allocated into mutual funds and stocks.
Gandhi has been a sharp critic of India’s top two billionaires – Mukesh Ambani and Gautam Adani – and has often accused them of benefiting from their close proximity with Prime Minister Narendra Modi. As per an affidavit filed with the Election Commission, the Waynad MP’s total declared assets stood at over Rs 20 crore. This includes movable assets of Rs 9.25 crore with about 90% attributed to investments in mutual funds and stocks and immovable assets valued at Rs 11.15 crore.
Gandhi’s top bet in equities (in terms of market value) includes investment in Pidilite Industries, Asian Paints, Bajaj Finance, Nestle India and Titan Company. His equity portfolio included shares in 25 listed companies.
The value of his stock holding stood at Rs 4.33 crore as of March 15, 2024. Gandhi held 1,474 stocks in Pidilite Industries whose value stood at Rs 42.27 lakh as of March 15, making it his biggest holding. His holding in Asian Paints stood at Rs 35 lakh, Rs 35.89 lakh in Bajaj Finance, Rs 35.67 lakh in Nestle India and Rs 32.58 lakh in Titan. His equity portfolio also has Deepak Nitrite, Divi’s Laboratories, Infosys, TCS and HUL.
Gandhi has made investments of Rs 3.81 crore in seven mutual funds. HDFC Small Cap regular (growth) is his top pick and the value of his investment in this scheme stood at Rs 1.23 crore. The value of this scheme has surged 50% in 1 year.
Commenting on Gandhi’s portfolio, Sonam Srivastava, founder and fund manager at Wright Research, said the inclusion of both established companies and smaller ventures indicates a willingness to leverage opportunities across different segments of the market.
“Overall, Gandhi’s asset portfolio reflects a prudent approach to investment, aiming to optimize returns while managing risks effectively,” added Srivastava.
Gandhi also holds 220 units of Sovereign Gold Bond 2020-21, with a value of Rs 15.21 lakh as of March 15. His Public Provident Fund had a balance of Rs 61.52 lakh as of March 15.