Rakesh Jhunjhunwala Death Anniversary: Today is the second death anniversary of Rakesh Jhunjhunwala, the legendary investor of the Indian stock market, famous as Big Bull. 2 years ago on this day, he left this world at the age of 62. This man really knew how to turn ashes into gold. Starting with just Rs 5000, Jhunjhunwala created a huge portfolio of Rs 40,000 crore. He is also called the Warren Buffett of India. Born on 5 July 1960 in a Rajasthani Marwari family, Jhunjhunwala was a jeweler of the stock market. He chose such stocks which later became multibaggers.
Starting from just 5000 rupees
Jhunjhunwala got addicted to the stock market at a young age. He was a qualified CA. He invested money in the market in his name and in the name of his wife Rekha Jhunjhunwala. Rakesh Jhunjhunwala did not start in the market with a huge amount. He came from a middle class family. He entered the market with only Rs 5000. This was in 1985, when the BSE Sensex was around 150 points. This was the time when very few people understood the stock market. Most people considered it to be a gamble. At such a time, Jhunjhunwala recognized the importance of the stock market.
There was no help from home
Rakesh Jhunjhunwala did not get financial help from his father to start in the stock market. However, his father never stopped him from entering the market. His father clearly told him not to expect anything from him. Jhunjhunwala once said, ‘Father had said that people trust you in the stock market, remember that many people invest money by keeping their wife’s jewellery. Do not break their trust. I remembered my father’s words. I did not manipulate my shares in the stock market to do anything keeping in mind the profit or loss.’
Currently the portfolio is worth Rs 50,000 crore
According to Trendlyne, Jhunjhunwala’s portfolio is currently managed by a team from Rare Enterprises, led by Utpal Sheth and Amit Goyal. Rakesh Jhunjhunwala and Associates publicly hold 26 stocks, with a net worth of Rs 50,787.2 crore. The portfolio also includes shares of Nazara Technologies, Federal Bank, Canara Bank, NCC, Tata Communications, Tata Motors, Titan Company and Metro Brands.
Even today investors follow these tips
Rakesh Jhunjhunwala used to say that the investor should do his own research about the stock market. The investor should take time for himself. He should skill himself from various sources. The investor should stay updated with the latest trends and trends of the market, so that better opportunities can be found. He used to advise to avoid speculation and do a thorough research about the stocks. He used to give more importance to long term investment instead of trading.
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