Rakesh Jhunjhunwala no more: Here's how a general guy became FATHER of stock market
Rakesh Jhunjhunwala's died on August 14, the eve of the country's 75th Independence Day. Here's how a general guy of Mumbai became the 'Father' of the stock market.
From Rs 5000 as capital to India's Warren Buffet, he was a great, iconic, and ace investor. Begun with a portfolio of Rs 5000, he was the king of the bulls now. As per the Forbes report, his net wealth is 5.8 billion.
The big bull made a bang entry into the aviation world through his new business Akasa Airlines.
Rakesh Jhunjhunwala's personal life is also the most talked about topic among his fans. He married Rekha Jhumjhunwala in 1987, a year after dabbling in the stock market. She is also a share market investor. They formed a company "Rare Enterprise" named with the combinations of the first two letters of Rakesh Jhunjhunwala and Rekha Jhunjhunwala.
Harshad Mehta era
Rakesh Jhunjhunwala was a bear during the Harshad Mehta period, and he made plutocrats by shorting equities after the Harshad Mehta fiddle in 1992. Big Bull conceded in a videotaped interview that he made a lot of plutocrat short selling as part of the bear combination.
As per the Trendlyne statistics report, the iconic investor has stocks of equities like Titan Company, Tata Motors, Star Health and Allied Insurance Company, Metro Brands, Fortis Healthcare, Nazara Technologies, Federal Bank, Delta Corp, DB Realty, and Tata Communications belong to Jhunjhunwala and associates.
Big Bull's stocks
As per the latest corporate shareholdings filing, Jhunjhunwala owned 33 shares worth Rs 25,842.3 crore.
Begining of the career
Rakesh Jhunjhunwala dabbled in the stock market when he was in college. He made the first investment that give him a big return in 1986. He invested in Tata Tea shares costing Rs 43 per share. He earned Rs 20 to 25 lakh in the next two to three years by investing in the Tata Tea share. This is the humble start of the journey that led Jhunjhunwala into India's Warren Buffet.