Dalal Street Mogul develops his Portfolio increased from Rs 5,000 to over Rs 30,000 crore in 1985 Now joint portfolio of him and his wife.
People would often put their money in a particular stock if they heard that Mr. Jhunjhunwala was eyeing it. He was known as an investor with a Midas touch, a lover of king-sized lives.
- An investor with a Midas touch, Rakesh Jhunjhunwala, who passed away in August 2022, was often referred to as the Warren Buffett of India.
- The son of an income tax officer, Jhunjhunwala started dabbling in stocks while in college.
- He started investing with $100 in 1985 when the Bombay Stock Exchange index was at 150; It is now trading at over 50,000.
- The most valuable listed holding in his portfolio at the time of his death was watch and jewelery maker Titan, which was part of the Tata Group.
- Mr. Jhunjhunwala’s initial bets on Star Health, Allied Insurance and Metro brands paid off when both the companies were listed in 2021.
- His privately owned stock trading firm Rare Enterprises is named after the first two initials of his name and that of his wife Rekha.
- Mr. Jhunjhunwala is the 36th richest Indian according to Forbes.
- His wealth increased from 1.3 billion to 5.8 billion between 2013 and now.
Portfolio and Business:
- Starting his journey in the stock markets while in college with a capital of Rs 5,000, he recently collaborated with former Jet Airways CEO Vinay Dube and former IndiGo chief Aditya Ghosh to launch Akasa Air – India’s newest budget carrier. did.
- The airline started commercial operations this month with the first flight from Mumbai to Ahmedabad.
- Jhunjhunwala, an investor with a Midas touch, was the 48th richest person in the country.
- Chartered Accountant by education, he chose Dalal Street instead of Audit. In 1985, Jhunjhunwala invested ₹5,000 as capital. By September 2018, that capital had grown to Rs 11,000 crore.
- His portfolio includes companies like Star Health, Titan, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazra Technologies, Tata Motors.
- In all, he had a stake in 47 companies at the end of the June quarter. Titan, Star Health, Tata Motors and Metro brands were some of his biggest holdings.
- He was the chairman of Hungama Media and Aptech and was on the board of directors of firms such as Viceroy Hotels, Concorde Biotech, Provogue India and Geojit Financial Services.
- He made his first big profit in 1986 when he bought 5,000 shares of Tata Tea at ₹43 and within three months the stock rose to ₹143. He earned ₹ 20-25 lakh in three years.
Prime Minister Narendra Modi has expressed grief over the death of Jhunjhunwala.
He tweeted, “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he made an indelible contribution to the financial world.”
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