Rakesh Jhunjhunwala – The nifty investor
Rakesh Jhunjhunwala mastered the niche to turn small fortunes into beefy net worths. Rakesh Jhunjhunwala, an extremely popular name in the share market, an investor with a "Midas touch" is idolized by many.
Welcome to Dalal street! if you play your cards right, you can win the lion's share. For many it's a very shaky business, however, it is indisputably one of the most profitable ways to grow a fortune. Some men have the knack to pick up the right stocks and work out the selling trends.
One well-thought gentleman named Rakesh Jhunjhunwala mastered the niche to turn small fortunes into beefy net worths. Rakesh Jhunjhunwala, an extremely popular name in the share market, an investor with a "Midas touch" is idolized by many.
A chartered accountant Jhunjhunwala is named as the "Warren Buffet of India". In the Forbes Rich List, Jhunjhunwala is the 54th richest man in the country.
He began investing with Rs 5000 in 1985 when the Bombay Stock Exchange Index was at 150; it now trades over 50,000. By September 2018, his capital had inflated to Rs 11,000 crore. His first big profit was ₹5 lakh in 1986. Between 1986 and 1989, he earned almost ₹20-25 lakh profit.
Jhunjhunwala's most valuable listed holding is watch and jewellery maker Titan, part of the Tata conglomerate. Jhunjhunwala also has investments in privately held companies such as Star Health Insurance, Metro Brands and Concord Biotech. Jhunjhunwala was in college when he started dabbling with the stock market, attained his Chartered Accountant degree but decided to plunge headlong into the Dalal street.
He is the chairman of Aptech and Hungama Media and sits on the board of directors of firms such as - Concord Biotech, Viceroy Hotels, Geojit Financial Services and Provogue India.
Jhunjhunwala manages his portfolio as a partner in his asset management firm, Rare Enterprises. An interesting fact of his privately owned stock trading firm Rare Enterprises derives its name from the first two initials of his name and his wife Rekha's name. His other significant investments are Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, Geojit Financial Services, Rallis India, Jubilant Life Sciences, etc.
In popular culture, there is a popular parody blog called "The Secret Journal of Rakesh Jhunjhunwala" that humorously parodies the Investor's life. On 7 June 2012, the authors were revealed by a popular newspaper to be two people Mark Fidelman and Aditya Mangal.
Jhunjhunwala does not see any COVID-19 wave in the future that may impact Indian share markets. According to him, the Indian economy is much better prepared to face this kind of crunch," he said. He also advised investors to stay vigilant in markets and said that even if there is a third wave, markets may blow it out of proportions.