Rakesh Jhunjhunwala, the billionaire investor, is no longer a dollar billionaire at least at the start of 2012, partly because of steep fall in the prices of his shares and partly due to rupee depreciation.
His portfolio has taken a serious beating in 2011, specially in the month of December when some of his favourite stock are down somewhere between 20 to 35 percent.
VIP Industries, a big chunk of his portfolio is down around 35% in december alone. Other losers include Provogue India, Subex, Reliance broadcast Network, Aptech and Delta Corp, all of which are down 20-25%. As per the insider news, the investor has been selling his positions recently to cover for losses from loss-making silver trades. However when asked about this, Jhunjhunwala termed those rumors baseless.