Rakesh Jhunjhunwala Biography and Success Story: Jhunjhunwala started his journey in the stock market with only 5 thousand rupees. In today’s time, he was one of the richest people in India. Let’s take a look at the journey of his life.
Rakesh Jhunjhunwala, famous as Big Bull and Market King in the world of stock market, veteran investor, said goodbye to this world today on August 14. The whole country including the business world is shocked by the news of the sudden demise of Rakesh Jhunjhunwala, who is called Warren Buffet of India. PM Modi himself has paid tribute to his death by making an emotional tweet.
Jhunjhunwala was the icon of crores of people
Rakesh Jhunjhunwala was the icon of crores of young investors and entrepreneurs. Crores of stock market investors of the country started investing in the stock market taking inspiration from him. It is said that the stock in which Jhunjhunwala used to invest money, its price went up to the sky. Jhunjhunwala started his journey in the stock market with only 5 thousand rupees. In today’s time, he was one of the richest people in India. Let’s take a look at the journey of his life.
Who was the big bull of the stock market
Rakesh Junjhunwala was born on 5 July 1960 in Mumbai. His father was an officer in the Income Tax Department and he also used to invest in the stock market. After seeing his father, Rakesh started investing in the stock market. Later, after graduating in commerce, Jhunjhunwala did a CA course from the Institute of Chartered Accountants of India in 1985.
When Jhunjhunwala, who is called the share market king, expressed his desire to enter the stock market for the first time, his father said that, first earn by yourself and then invest in the share market. After which Rakesh started investing in the stock market in the year 1985 with Rs 5000. A year later i.e. in 1986, he made profit for the first time.
At that time Jhunjhunwala had bought the shares of Tata Tea at a price of Rs 43 and after three months sold it at Rs 143. After this, Jhunjhunwala had earned a profit of Rs 2.5 crore in three years. After this Rakesh bought four lakh shares of Sesa Starlit company worth Rs 1 crore and made huge profit in this investment.
The most important and big milestone in the life of Rakesh Jhunjhunwala came in the year 2003. This year Rakesh Jhunwala invested in Tata Group’s company Titan. It is said that this one share changed his fortunes. He bought six crore shares at a price of Rs. If we look at the price of Titan’s shares today, then its price is Rs 2471.
Today his portfolio includes shares of many companies. These included companies like SAIL, Tata Motors, Tata Communications, Lupine, TV18, DB Realty, Indian Hotels, Indiabulls Housing Finance, Federal Bank, Karur Vysya Bank, Escorts Limited, Titan Company.
Recently launched Akasa airline
Rakesh Jhunjhunwala recently started his airline company Akasa Air. On 7 August, Akasa airline took the first flight between Mumbai and Ahmedabad. The interesting thing is that a share of Tata Group had changed the fortunes of Rakesh Jhunjhunwala and today he was giving competition to the same Tata Group through Akasa Air.