Rahul Gandhi on April 3, filed his nomination papers for the upcoming Lok Sabha elections from Wayanad constituency, Kerala. Following Rahul Gandhi's nomination, the Election Commission of India provided information about his assets and investments, providing a glimpse into his approach to wealth management, and a few pending legal cases.
Financial Portfolio: Overview
Rahul Gandhi has an Impressive Portfolio. His total net worth is ₹20.4 crore, a little more than what he declared while filing his nomination in the 2019 elections. However, he does not possess any vehicles or flats. A large portion of his wealth is attributed to his stock market investments, which are worth Rs 4.3 crore and mutual fund deposits, together valued at ₹8.14 crore as of March 15 this year. His wealth is split between immovable and movable assets; the immovable assets are valued at ₹11.15 crore, while the movable assets total ₹9.24 crore.
Stock Market Investments
Rahul Gandhi was revealed to be Investment-savvy, as he owns shares in 25 listed companies, ranging from established blue-chip stocks to promising small-cap ventures. As of March 15, 2024, his total stock holdings exceeded Rs 4.33 crore.
Gandhi holds the largest number of stocks, totalling 4,068, in a small-cap company called Suprajit Engineering, which had a market value exceeding Rs 16.65 lakh as of March 15. However, this value has since risen to over Rs 17 lakh as of April 4.
Among Gandhi's other significant stock holdings in terms of volume were ITC and ICICI Bank. He owns 3,093 shares in ITC valued at Rs 12.96 lakh and 2,299 shares in ICICI Bank valued at Rs 24.83 lakh, both as of March 15.
His largest holding in terms of market value was 1,474 stocks in Pidilite Industries, valued at Rs 42.27 lakh as of March 15. Other notable holdings included Asian Paints (Rs 35.29 lakh), Bajaj Finance (Rs 35.89 lakh), Nestle India (Rs 35.67 lakh), and Titan Company (Rs 32.58 lakh).
His portfolio also encompasses stocks like Alkyl Amines, Deepak Nitrite, Divi's Laboratories, Infosys, Tata Consultancy Services (TCS), and Britannia Industries. His most substantial investment was in HDFC Small Cap regular (growth) with a market value of Rs 1.23 crore, followed by ICICI Prudential Regular Savings Fund valued at Rs 1.02 crore. Data reveals that the Net Asset Value (NAV) of HDFC Small Cap regular (growth) scheme has increased by 51.85% in the past year.
Gandhi also maintains investments in the HDFC Hybrid Debt Fund (G) valued at Rs 79 lakh. Additionally, he holds investments worth over Rs 19 lakh each in HDFC Mid-Cap Opportunities Fund - Direct Plan, ICICI Prudential Equity & Debt Fund Growth, and Parag Parikh Flexi Cap Fund (Direct Plan). Furthermore, he has investments in HDFC Small Cap direct plan (growth) totalling Rs 17 lakh.
His top ten stocks by market value contributed to 65 percent of the overall equity value of ₹4.34 crore.
Equity Investments
In addition to his top ten holdings, Gandhi also has equity investments in Tata Consultancy Services, Infosys, and ITC, among other blue-chip stocks. Interestingly, he does not have any equity exposure to any of the seven listed Adani Group Companies or the companies listed under Mukesh Ambani's leadership.
Mutual Fund Holdings
Gandhi has made investments in mutual funds worth ₹3.81 crore He invests in a variety of mutual fund schemes, including mid-cap and small-cap funds. Mutual funds purchased by Gandhi include HDFC Small Cap Reg-G, ICICI Prudential Reg Savings-G, PPFAS FCF D Growth, and HDFC MCOP DP GR.
Gold
Furthermore, Gandhi has invested in sovereign gold bonds, holding 220 units of Sovereign Gold Bond 2020-21, with a value of Rs 15.21 lakh as of March 15 and ₹4.20 lakh in jewellery.
Real Estate Holdings
Gandhi has real estate holdings in addition to financial investments, such as farmland and a farmhouse in Mehrauli, Delhi, which he shares with his sister Priyanka Gandhi Vadra. He also owns office space in Gurugram, which is estimated to be worth ₹11 crore, demonstrating his varied asset portfolio.
Income and Savings
Gandhi's financial affidavit shows that he makes over ₹1 crore a year and disclosed holding Rs 55,000 in cash and a combined balance of Rs 26.25 lakh across his two bank accounts.
Furthermore, Gandhi also has investments in National Savings Schemes, Postal Savings, insurance policies, and other ventures aggregating ₹61.52 lakh.
Pending Cases against Rahul Gandhi
Gandhi listed the police cases he is facing in the affidavit, including one under the Protection of Children from Sexual Offenses Act (POCSO) for allegedly posting on social media the identity of a rape victim's family members. Additional cases include criminal conspiracy connected to Associated Journals Limited and defamation complaints from leaders of the Bharatiya Janata Party.
More about Wayanad Constituency
Wayanad constituency, established in 2009, has been a considerable ‘safe’ seat of Congress. In the 2019 General elections, after losing Amethi to Smriti Irani of BJP, Gandhi secured a victory in Wayanad with a significant margin of four lakh votes, retaining his position as a member of Parliament.
Also Read: Rahul Gandhi, CPI's Annie Raja files nomination from Wayanad (vygrnews.com)
Ahead of the Lok Sabha Elections, Rahul Gandhi is in for a direct competition in the constituency against CPI’s candidate Annie Raja. BJP has fielded K Surendra, receiving the support of Smriti Irani to repeat an Amethi-like historic win in Wayanad. Kerala will go to vote on 26th April 2024.
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