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The impact of coronavirus carnage on Radhakishan Damani’s portfolio

<ul><li>While the fourth-quarter earnings looked strong, the forecast is for a sharp fall in profitability. </li><li>Analysts have cut earnings estimates after the management said that the sales in April were down 45%.</li><li>The margin may shrink further as the both the demand and supply of non-essentials take a hit while costs rise due to rising safety needs.</li></ul><keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword> became India's second richest man as his company <keyword id="6410316" type="UNKNOWN" weightage="20" keywordseo="avenue-supermarts">Avenue Supermarts</keyword>, which operates the <keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword> chain of department stores, became the 11th most valuable company in India and the top retail stock in the country. But the COVID-19 crisis may take a lot of that sheen away, at least the management believes so, which is why the stock price fell a sharp 5% on Tuesday (May 26). <div type="image" title="dmart share price may 26." msid="75991916" hostid="261"></div> In the fourth quarter of the last financial year, DMart reported a 26% growth in revenue to ₹6255.93 crore and a 41.6% jump in profit to ₹271.28 crore, both compared to the same time last year. However, the impact of the coronavirus pandemic accounted for less than a half a month⁠— the revenue growth in March was still 11% ⁠— but that was enough to drag the profit below the ₹381 crore in the preceding three months. <div type="image" title="DMart profits." msid="75991922" hostid="261"></div> Since the beginning of the new financial year, the revenue was down by 45% in April and things could get worse. “Significantly large EBITDA declines are to be expected due to lower sales, lower gross margins, higher cost of operations on account of hardship allowance to front line staff during lockdown and higher personal hygiene/store sanitation costs,” said the company. EBITDA stands for earnings before interest, tax, depreciation, and amortisation and it is a metric to measure the strength of a company’s core business. DMart’s biggest pull for the customers are its discounts, especially for daily essentials. Where the company makes money is in the discretionary products like apparel and they aren’t allowed to be sold yet, in most parts of the country where the company operates. With lockdown 4.0, the company has started selling non-essentials in about one in every three of its stores. However, even from a customer’s point of view, the demand for non-essentials is currently only “need based”. Therefore, analysts from Prabhudas Lilladher have cut the FY21 and FY22 earnings per share estimate for DMart by 16.8% and 8.1% respectively. What’s worse for the company, the costs are rising due to rising sanitisation and safety requirements. While it added 18 new stores in the last quarter, new store openings hereon will be affected due as construction activities have come to a halt. See Also: <a href="https://www.businessinsider.in/business/corporates/news/dabur-fourth-quarter-results-and-share-price-chart/articleshow/75991489.cms?upcache=2">Dabur Chyawanprash was in the minds of immunity-seeking Indians amid COVID-19 lockdown⁠— the earnings will show if they bought enough of it</a>

DMart’s management painted a scary picture of the next few quarters ⁠— the shares of Radhakishan Damani’s company fell 5%

<ul><li><keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword>’s parent company Avenue Supermarts became India’s 11th most valued company. </li><li>However, its fourth quarter earnings could still have taken a hit due to the coronavirus pandemic.</li><li>The company had earlier said that 50% of its stores were not operational during the lockdown.</li></ul>DMart’s share price has climbed by 35.7% since the beginning of the year. However, its fourth quarter earnings could still have taken a hit due to the coronavirus pandemic. Ac<a href="https://economictimes.indiatimes.com/markets/stocks/news/dmart-tanks-5-as-company-says-half-of-stores-non-operational/articleshow/75115970.cms">cording to Prabhudas Lilladher</a>, there will be an estimated 25% sales decline between Jan and March 2020 for DMart, and a 5% decline in the next three months ending June. The growth in profit after tax in March 2021 is likely to be just 12%, according to the report. <div type="image" title="DMART." msid="75883285" hostid="261"></div> The most valued retail stock in India had also pushed its owner <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword> to become India’s second richest man. <div type="image" title="Radhakishan Damani" msid="75883263" hostid="261" caption="&amp;lt;p&amp;gt;Radhakishan Damani&amp;lt;/p&amp;gt;"></div> On Thursday (May 21), DMart’s parent company Avenue Supermarts became India’s 11th most valued company. Its market cap stood at ₹1,58,902.37 crore, moving ahead of giants like Maruti, Nestle, HCL Tech. DMart’s bullish growth DMart began with a single store in Mumbai’s Powai in 2002. Today, DMart is present in over 214 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan. In the third quarter ending December 2019, DMart had posted a 33% jump in profits, as well as a 24.4% increase in revenue to ₹6,809 crore. If COVID-19 hadn't struck, according to <a href="https://economictimes.indiatimes.com/markets/stocks/news/dmart-on-course-to-being-cash-surplus-how-it-spends-will-be-key/articleshow/73220765.cms">reports</a>, DMart would have ended FY20 with almost no debt. Covid19 strategy With the coronavirus pandemic, DMart was quick to implement multiple strategies to stay afloat. Being in the essentials category, DMart pushed its limitations and decided to stay open 24*7 since April 1. It began to deliver essentials at home by tying up with RWAs and taking in orders through WhatsApp. But that might not be enough. “However the sales from these channels are inconsequential,” said the company. The company also said that 50% of its stores were not operational during the lockdown. Its sales would also be impacted as the coronavirus pandemic kept people away from physically visiting stores while sales in its non-essentials category came to a standstill. See Also: <a href="https://www.businessinsider.in/business/news/reliance-strikes-5th-deal-sells-2-32-pc-in-jio-platforms-for-rs-11367-cr-to-kkr/articleshow/75881643.cms">Reliance strikes 5th deal, sells 2.32% in Jio Platforms for ₹11,367 cr to KKR</a> <a href="https://www.businessinsider.in/business/news/future-retail-promoter-kishore-biyani-net-worth-falls-sharply-as-debt-rises/articleshow/75861065.cms">Once India’s ‘retail king’, Future Retail promoter Kishore Biyani is straddling high debt, coronavirus and negative ratings⁠⁠— and nearly his entire stake is already pledged</a>

DMart's quarterly sales may fall 25% but the shares are already up 35% ⁠— the retailer is now bigger than Maruti, Nestle and HCL Tech

<ul><li>Jhunjhunwala is one of the few billionaires in India whose net worth has surged during the nationwide lockdown in the country from March 23 to June 30. </li><li>Jhunjhunwala along with his family has increased his investments in listed companies by over 30% to ₹10,797 crore in the last four months. </li><li>Jhunjhunwala has 29 stocks in his portfolio, according to moneyexcel.com, ranging from Aptech Limited, Titan, CRISIL, Edelweiss Financial Services, Bilcare, Delta Corp among others. </li></ul>The market volatility may have investors jittery but there’s no stopping the Big Bull from adding to his coffers. Indian billionaire <keyword id="6398943" type="UNKNOWN" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword> earned at least $40 million in the last four months, thanks to some of the new stocks he purchased during this COVID-19 lockdown in India. Moreover, Jhunjhunwala has become one of the few billionaires in the country to have increased their net worth during nationwide lockdown in the country from March 23 to June 30, according to Forbes real-time billionaires data. Apart from him, Radhakishan Damani and Mukesh Ambani saw a surge in their net worth. His latest investments include a 3.18% stake buy in Dishman Carbogen Amis. <div type="image" title="Rakesh Jhunjhunwala" msid="77081733" hostid="261"></div> <a href="https://www.business-standard.com/article/markets/rakesh-jhunjhunwala-s-portfolio-outperforms-net-worth-over-rs-10-000-crore-120072100483_1.html">According to Business Standard</a>, Jhunjhunwala along with his family has increased his investments in the listed companies by over 30% to ₹10,797 crore in the last four months. This includes increased investments in Rallis India, <keyword id="439363" type="ORGANIZATION" weightage="20" keywordseo="Jubilant-Life-Sciences">Jubilant Life Sciences</keyword> amongst other stocks. <div type="Article" hostid="261" msid="77102706" title="IndiaMart’s Dinesh Agarwal shares how the profit doubled during the lockdown" mstype="2" mssubtype="0"></div> These a<a href="https://trendlyne.com/portfolio/superstar-shareholders/53781/latest/rakesh-jhunjhunwala/">re the stocks that Jhunjhunwala has bet </a>on in the last three months: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Autoline Industries. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Firstsource Solutions </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NCC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant Life Sciences </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rallis India </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dishman Carbogen Amcis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"></td></tr></tbody></table> Jhunjhunwala’s has 29 stock in his portfolios, <a href="https://moneyexcel.com/11499/rakesh-jhunjhunwala-portfolio-holdings/">according to moneyexcel.com</a>, <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aptech Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Man Infra Construction </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ion Exchange </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bilcare </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Spice Jet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geojit Financial Services </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Orient Cement </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delta Corp </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prakash Industries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MCX </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mandhana Retail Ventures </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Firstsource Solution </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dewan Housing Finance Corporation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Federal Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rallis India </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fortis Healthcare </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TV 18 Broadcast </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant Life Sciences </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CRISIL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes Bank </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Communication </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prakash Pipes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">VIP Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NCC Ltd. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Autoline Industries Ltd. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dishman Carbogen Amcis </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and Astrazeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-upcoming-affordable-smartphone-oneplus-nord-launch-price-specifications-features/articleshow/77061620.cms">OnePlus Nord launch price, specs and more – Everything we know about the upcoming affordable OnePlus smartphone</a>

Big Bull Rakesh Jhunjhunwala added nearly $40 million to net worth in the last four months⁠— these are the stocks he bet on

As the coronavirus continues to spread state governments are shutting down all places which allow public gatherings and that includes offices. As 125 people have <a>infected</a> and several others are under observation and quarantine. To control the spread, several <a href="https://www.businessinsider.in/india/news/wipro-asks-employees-to-work-from-home-coronavirus-outbreak/articleshow/74662704.cms">companies</a> <a href="https://www.businessinsider.in/business/news/coronavirus-flipkart-offers-work-from-home-for-employees-with-small-children/articleshow/74599857.cms">asked</a> their employees to <a href="https://www.businessinsider.in/science/health/news/tips-to-work-from-home-during-the-coronavirus-outbreak/articleshow/74578274.cms">work from home</a> temporarily. If you are working from home, it is important to stay connected with your colleagues and video calling is a good tool to help you communicate without having to go out. In an unprecedented move, the eight countries of SAARC recently held a <a href="https://www.businessinsider.in/india/news/coronavirus-india-offers-10-million-to-saarc-for-emergency-funds/articleshow/74639920.cms">web-summit</a> to work on a strategy to contain coronavirus. Best video calling apps to use during coronavirus These are the apps that will help you stay connected to your friends as well as colleagues. Zoom Zoom is a popular <keyword id="76949" type="TECHNOLOGY" weightage="20" keywordseo="video-conferencing">video conferencing</keyword> software and supports up to 1,000 participants and limits group sessions to 100. To help users during the coronavirus outbreak, Zoom removed time limits from the free accounts in the affected regions. It is also allowing schools to hold classes. Platforms – Windows, Mac, Android and iOS. Microsoft Teams Teams, a popular productivity tool from Microsoft has a host of features that help you work together with your team. Due to the coronavirus, the app saw a surge in use and Microsoft announced that the premium version of Teams will be available for free for the next six months. Platforms – Windows, Mac, Linux, Android and iOS. Cisco WebEx WebEx offered by Cisco is available in free and paid tiers. It offers HD video calling and various collaboration tools such as screen sharing and personal rooms to help you connect with your team. The free tier allows you to hold meetings in HD with up to 100 participants. Platforms – Windows, Mac, Android and iOS. Google Hangouts Meet Google Hangouts Meet allows teams to easily collaborate while working from home. It is a part of Google’s G Suite and supports up to 50 participants with a fairly good video quality. Google announced that Education customers globally will get access to advanced features of Google Hangouts Meet for free till July 1. Platforms – Windows, Mac, Linux, Android and iOS. Skype While most features of Skype for Business have been moved to Microsoft Teams, Skype is still useful for small teams to connect easily. It allows group calls of up to 50 persons at once. Platform – Windows, Mac, Linux, Android and iOS. Others Apart from these, you can also use FaceTime, Google Duo, WhatsApp video calls and Facebook for quick video calls. See also: <a href="https://www.businessinsider.in/india/news/coronvirus-in-india-map-and-data/articleshow/74666694.cms">Coronavirus in India — a visual guide to how the Covid-19 infection is spreading in the country</a> <a href="https://www.businessinsider.in/science/health/news/tips-to-work-from-home-during-the-coronavirus-outbreak/articleshow/74578274.cms">Tips to work from home during the coronavirus outbreak</a> <a href="https://www.businessinsider.in/business/news/the-impact-of-coronavirus-carnage-on-radhakishan-damanis-portfolio/articleshow/74661795.cms">The impact of coronavirus carnage on Radhakishan Damani’s portfolio</a>

Best video calling apps for all those forced to work from home

<ul><li>Half of the billionaires, including Mukesh Ambani, Radhakishan Damani, Gautam Adani, Cyrus Poonawalla, saw significant gains in their wealth. </li><li>The biggest percentage gainer was 67-year old Kiran Mazumdar-Shaw, Biocon founder and the second richest woman in India. </li><li>While Biocon has joined the race to discover the vaccine, Shaw was not immune to COVID-19. She tested positive in August and recovered in a fortnight. </li></ul>India’s super-rich club of 100 people has added nine new faces and about $88 billion collectively during the coronavirus pandemic — which is assumed to be far worse than the Great Depression. Half of the billionaires, including Mukesh Ambani, Radhakishan Damani, Gautam Adani, Cyrus Poonawalla saw significant gains — taking the collective net worth of 100 billionaires to $517.5 billion, <a href="https://www.forbes.com/sites/naazneenkarmali/2020/10/07/indias-100-richest-2020-collective-net-worth-of-countrys-richest-rose-14-despite-pandemic/#2cf4d5e93da4">Forbes reported. </a> The biggest percentage gainer was 67-year old Kiran Mazumdar-Shaw, Biocon founder and the second richest woman in India. Her wealth has nearly doubled from $2.38 billion in 2019 to $4.6 billion in 2020 — a whopping 93.28% gain among India's 100 richest. She is one of the only five women billionaires in India. <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> started her Indian-based pharma company about 42 years ago with merely two employees and $500 funds. However, it was not until 2014 that her company became a publicly-traded entity. It touched the $1billion mark on the very day it listed. Over the past decade, Biocon has grown by leaps and bounds to become a $5 billion company. In just the last 12 months, Biocon’s share price has surged 99% from ₹233 in October 2019 to ₹464.70 currently. <div type="image" title="Biocon11" msid="78569590" hostid="261"></div> While her company has joined the race to discover a vaccine to fight the virus, Shaw wasn’t immune to it. On August 16, she tested positive for COVID-19 and recovered 15 days later. Shaw has been vocal about leveraging science to contain the virus. Three months after coronavirus broke out in India, Biocon announced that it would launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around ₹8,000 per vial. The pharmaceutical is set to begin the phase-4 trials of the potential drug. Well, Shaw might have gained the most, but Mukesh Ambani’s record gains have left everyone behind. He remains India’s richest man for the 13th year in the running and leads by a large margin. Ambani added $37.3 billion to his fortune, thanks to the trail of investments in Reliance Jio and his retail venture. Jio alone got $20 billion investments from investors like Google, Facebook, and Microsoft. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-beats-accenture-to-become-the-worlds-most-valuable-it-services-company/articleshow/78566487.cms">TCS beats Accenture to become the world’s most valuable IT services company — but this not the first time it has raced ahead</a>

India’s second richest woman nearly doubles her wealth to $4.6 billion during the COVID-19 pandemic

Nursing mothers who receive a <keyword id="8904563" type="UNKNOWN" weightage="20" keywordseo="covid-19-vaccine">Covid-19 vaccine</keyword> may pass protective <keyword id="102007" type="TECHNOLOGY" weightage="20" keywordseo="Antibodies">antibodies</keyword> to their babies through <keyword id="29754" type="PERSON" weightage="20" keywordseo="Breast-milk">breast milk</keyword> for at least 80 days following <keyword id="54639" type="ORGANIZATION" weightage="20" keywordseo="vaccination">vaccination</keyword>, suggests a small <keyword id="6355244" type="UNKNOWN" weightage="20" keywordseo="study">study</keyword>. The findings showed that breast milk contained elevated levels of the IgA and IgG antibodies -- antibodies deployed by the immune system to fight infections in babies -- immediately following the first dose of vaccination. Both antibodies reached immune-significant levels within 14 to 20 days of first vaccination in all participants, according to the study, published in the American Journal of Obstetrics and Gynecology. "Our study showed a huge boost in antibodies against the Covid-19 virus in breast milk starting two weeks after the first shot, and this response was sustained for the course of our study, which was almost three months long," said lead author Jeannie Kelly, Assistant Professor of obstetrics and gynecology at Washington University School of Medicine in St Louis, the US. "The antibodies levels were still high at the end of our study, so the protection likely extends even longer," Kelly added. The study involved five mothers who provided frozen breast milk samples after receiving the two-dose Pfizer-BioNTech coronavirus vaccine. They were tracked for antibodies before the first vaccinations and on a weekly basis for 80 days after it. "Our study is limited by a small number of participants, but the findings provide encouraging news about the potential immune benefit to breast-feeding infants after vaccination," said Misty Good, Assistant Professor of pediatrics, at the Washington University. The findings provides some of the first peer-reviewed evidence that breastfeeding confers a long-lasting immune response in the nursing infants and toddlers of vaccinated mothers, the researchers said. While further studies of maternal Covid-19 vaccination are needed to characterize the length of antibody production in breast milk and the effect on infant infection rates, recent research continues to confirm that the Covid-19 vaccine offers real benefits for protecting both mother and child. SEE ALSO: <a href="https://www.businessinsider.in/business/news/restaurants-in-maharashtra-are-staring-at-a-slow-death-as-another-lockdown-threatens-to-kill-their-business/articleshow/81924727.cms">Maharashtra restaurant owners fear the current lockdown could be the final nail in the coffin for their business</a> <a href="https://www.businessinsider.in/science/space/news/earth-isnt-the-only-planet-with-rain-and-it-could-be-the-key-to-finding-a-habitable-planet-outside-the-solar-system/articleshow/81926108.cms">Raindrops on other planets could be key in search for life beyond the solar system</a> <a href="https://www.businessinsider.in/retail/news/at-least-one-in-three-dmart-stores-are-in-maharashtra-and-that-is-squeezing-radhakishan-damani-fortunes/articleshow/81928702.cms">At least one in three DMart stores are in Maharashtra and that is squeezing Radhakishan Damani’s fortunes</a>

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India’s second richest woman nearly doubles her wealth to $4.6 billion during the COVID-19 pandemic

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Nursing mothers who have taken COVID-19 vaccines may pass antibodies to their babies for 80 days after vaccination, says study

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