The death of India's veteran investor Rakesh Jhunjhunwala has spread a wave of mourning in the industry world.
Rakesh Jhunjhunwala started the journey with an investment of only five thousand rupees. Today his total net worth is more than 41 thousand crore rupees.
India's legendary investor Rakesh Jhunjhunwala passed away this morning. Jhunjhunwala breathed his last at 6:45 am at Kandy Breach Hospital. Jhunjhunwala was considered the uncrowned king of the stock market.
Jhunjhunwala's passion in the field of investment was so much that he was also called the Warren Buffett of India. The example of his sharp eyesight is given in the stock market all over the world.
Many a times, the way he handled the business even amidst the storm of ups and downs in the market, surprised everyone. While many investors used to leave the market as soon as the market boomed, Rakesh Jhunjhunwala did not panic at all during this time and used to work calmly.
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Rakesh Sir was also called the Big Bull of the stock market. It was said about Jhunjhunwala that even if he touches the soil, it turns into gold.
Started investing with just five thousand, late Rakesh Jhunjhunwala entered the world of investment in the year 1985. During this, he started investing with just five thousand rupees and today his total net worth is more than 41 thousand crore rupees.
Jhunjhunwala also took a CA degree from the Institute of Chartered Accountants. It is said that Jhunjhunwala's interest in the stock market was due to his father. His father was a tax officer. His father often used to talk about the stock market with his friends. Jhunjhunwala used to listen carefully to his father's words.
From then on he started understanding Dalal Street and from here he started taking flight in the investment world. When he started making gains in the investment world, he became convinced that if big money can be made from anywhere, then this is the only place.
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Initially Tata shares made tremendous profits Jhunjhunwala was a risk taker from the beginning. He borrowed money from his brother's customers with a promise to return it with higher returns than bank fixed deposits. In 1986, he made his first significant profit when he bought 5,000 shares of Tata Tea for Rs 43 and within three months the stock rose to Rs 143. He earned more than three times his money.
He earned 20-25 lakhs in three years. Jhunjhunwala has successfully invested in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma and NCC over the years. This is how the big bull of the stock market became Rakesh Jhunjhunwala earned a profit of crores by investing money in shares in just three years.
After this, he placed bets in many companies that came and made a lot of profit. But what made Jhunjhunwala the Big Bull was Tata's Titan Company. Actually, Jhunjhunwala had invested money in the Tata group company Titan in the year 2003. At that time, he had bought six crore shares of Titan for just three rupees, whose value increased to more than Rs 7000 crore.