Meet man, who lost Rs 464850000000 in single day, still India’s top donor, who donated Rs 2153 crore, he is…

Shiv Nadar’s ability to absorb such a loss while maintaining his status as one of the wealthiest and most charitable individuals in India is commendable.

Written by: Anirudha Yerunkar Edited by: Anirudha Yerunkar

Published: January 15, 2025, 8:57 AM IST

Share

Share Article

• Facebook
• WhatsApp
• X
• Email
• Telegram
• Linkedin

https://www.india.com/business/meet-man-who-lost-rs-464850000000-in-single-day-due-to-hcl-tech-shares-fall-still-indias-top-donor-who-donated-rs-2153-crore-he-is-shiv-nadar-7538790/ Copy

India is home to several billionaires like Mukesh Ambani and Gautam Adani, known for their contributions across industries such as IT, ports, and telecom, as well as their philanthropy. Despite their immense wealth, they are not immune to the vagaries of the stock market. On Tuesday, one of India’s leading billionaires, Shiv Nadar, experienced a staggering loss of Rs 46,485 crore after the shares of his company, HCL Tech, plummeted by 9%.

HCL Tech’s Market Value

HCL Tech, one of India’s top IT services providers, witnessed a sharp decline in its stock price after its December quarter earnings failed to meet market expectations. The company’s shares tumbled 8.63% on the Bombay Stock Exchange (BSE), closing at Rs 1,813.95 per share. During the trading session, the stock hit a low of Rs 1,798.40, reflecting a total drop of 9.41%. On the National Stock Exchange (NSE), the stock ended 8.51% lower at Rs 1,819.95 per share.

This decline made HCL Tech the biggest loser among firms listed on the BSE Sensex and NSE Nifty. As a result, the company’s market capitalization decreased to Rs 4,92,245.28 crore as of January 14, according to PTI.

Shiv Nadar’s Net Worth

Despite this massive loss, Shiv Nadar’s real-time net worth stands at an impressive $39.4 billion (Rs 3,40,793 crore), as reported by Forbes. This underscores the robust foundation of his wealth and the strength of his company in the IT sector.

India’s Most Generous Donor

At 79, Shiv Nadar is not just a tech magnate but also India’s most generous philanthropist. According to the EdelGive-Hurun India Philanthropy List 2024, released in November, he donated Rs 2,153 crore in FY 2024 equivalent to Rs 5.9 crore every single day. This marks the third time in five years that he has been recognized as India’s most generous philanthropist.

While the stock market’s volatility resulted in a temporary dip in HCL Tech’s valuation, Shiv Nadar’s contributions to India’s IT sector and his philanthropic endeavors continue to set him apart as a true pioneer and a role model for future generations.