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Thursday, November 30 2023
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Rakesh Jhunjhunwala: The Big Bull of Indian Stock Market

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Indian billionaire , commerce magnate, veteran stock trader and investor Rakesh Jhunjhunwala was born July 5, 1960. Jhunjhunwala grew up in a Rajasthani family, in Bombay, where his father worked as an income tax collector. He graduated from Sydenham College and from there on enrolled at the Institute of Chartered Accountants of India.
Jhunjhunwala born into a family of tax officers, began trading stocks while he was still in college. The Big Bull’s speculation journey started with a Rs 100 investment in 1985 when the Bombay Stock Trade Index was only at 150. Jhunjhunwala got interested in the stock market after hearing his father and friends discuss it. His most profitable investment is Titan, the jewellery company.

He was given the nickname “Big Bull of Dalal Street” for his unique investing style. Counted among some of the successful Indian investors, he is referred to as the Warren Buffett of India, due to his success in making money at the stock market. Jhunjhunwala has been a successful investor over the years, with investments in well-known and established companies as well as in upcoming startups. Jhunjhunwala was India’s 36th richest person in 2021 and 438th richest person in the world, so far in 2022, according to Forbes.

Apart from being an active investor, Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sat as the Board of Directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies Limited, Mid-Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.

Rakesh had multiple health issues related to heart, diabetes and kidneys and was not feeling well for the past few months and on August 14 passed away at the age of 62 in Mumbai after a cardiac arrest.

Tributes poured in from all the corner as Prime Minister Narendra Modi expressed grief over Jhunjhunwala’s passing. He tweeted, “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also exceptionally passionate about India’s progress. His passing away is disheartening. My condolences to his family and admirers. Om Shanti.”

His portfolio includes companies like Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies, Tata Motors. In general, he had stake in 47 companies at the end of June quarter. He has holding in around 19 companies, including Tata Communications, Titan Company, Bilcare, Va Tech Wabagh, Government Bank, Aptech.

He partied hard when he partied. He transmitted positivity and cared deeply around everyone he knew. His advice was heartfelt and was ever eager to assist. In short, a man with a heart of gold.

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