It becomes necessary to talk about the success story of Rakesh Jhunjhunwala, who is called Warren Buffett of India in the stock market. Rakesh Jhunjhunwala, who holds a degree in Chartered Accountant, was born on July 5 in 1960. His father was an income tax officer. Rakesh started investing in the stock market time of college.
Who is Rakesh Jhunjhunwala?:
Rakesh Jhunjhunwala, known as India’s Warren Buffet investor and co-founder of Akasa Airlines, passed away at the age of 62. Rakesh Jhunjhunwala was a name which is known in the stock market as Paras stone (Midas Touch). That is the shares of the company in which he invested used to take flight. Investors have been keeping an eye on their investments every day. They believe that investing money where Jhunjhunwala has invested is a guarantee of earning. Jhunjhunwala was one of the risk-taking investors from the beginning.
And the effect of this strategy was that today he was the 36th highest noble of India. He was ranked 438th in the world according to the Forbes list.
Build an empire of 46 thousand crores with 5000 rupees
Rakesh Jhunjhunwala, who holds a degree in Chartered Accountant, was born on July 5 in 1960. His father was an income tax officer. He started investing in the stock market from the time of college. Started his investment in the year 1985 with Rs 5000. According to Forbes, BSE was around 150 marks at that time. Today the stock market has reached 59000 points.
In an interview, Jhunjhunwala had told that after listening to his father’s discussion on the stock market with friends, he became interested in the stock market. Jhunjhunwala said that his father used to ask him to read newspapers regularly. He said that the ups and downs in the stock market are visible in the news of the newspapers. According to Forbes, he currently had a net worth of $5.8 billion.
Stock market trend:
Rakesh Jhunjhunwala’s father was an Income Tax Officer. That’s why his interest was to invest in the share market and he used to do a lot of things related to the share market among his friends too. And Rakesh used to listen very carefully to the share market-related conversation between his father and his friends.
One day when he was a child, he asked his father about the fluctuations in the price of shares, then the father asked him to watch the news in an avoidant manner and the news itself was responsible for the fluctuations in the share prices. Suppose, this happened that after this Rakesh started reading newspapers etc regularly and he started to understand that the price of shares also depends on the demand and supply like other commodities, that is, the stock whose demand is high.
Its prices are also high and the stock whose supply exceeds the demand has low rates. This was the first learning that Rakesh Jhunjhunwala got about the share market and after that, his interest in it started increasing he started reading newspapers and listening to the news every day and also reading about different companies and collecting information.
As far as educational qualifications Rakesh is concerned, he completed his graduation from Sydenham College and Chartered Accountancy from the Institute of Chartered Accountants of India.
Although Rakesh Jhunjhunwala had a tendency and interest in the stock market since his teenage years, so once he put his interest in front of his father, then he only said that whatever you want to do, do it but before that, you should become commercially qualified. Go, that is, take some professional education, it is said that only after this Rakesh was determined to do C.A.
And now that both studies and vocational education were completed, Rakesh again expressed his desire to go to the stock market in front of his father, after which his father’s answer was that whatever you want to do, but keep in mind the money. Tell neither to me nor to any of your friends. Which meant earning yourself and investing yourself.
First investment in the share market:
Rakesh ji started his career in the stock market in 1985 when the Bombay Stock Exchange’s Sensex was only at 150, which has reached 59-60 thousand at present. That is to say, in 1985, when Rakesh Jhunjhunwala was eager to invest in the stock market, he had only 5000 rupees deposited in his bank account.
Which was not enough to become a full-time investor. Therefore it is said that his brother was a practicing C.A. He had given it to Rakesh by borrowing money from his client, and with this borrowed money, Rakesh Jhunjhunwala started his career in the stock market.
Rakesh Jhunjhunwala’s success in the stock market:
Rakesh Jhunjhunwala, who started his career with borrowed money in 1985, made his first big profit only a year after starting his career. It is said that three months before he made this profit, he had bought about 5000 shares of Tata Tea at the rate of only Rs 43 per share, which had more than tripled in three months i.e. Rs 143 per share, And this was the time when he thought it appropriate to sell the shares available with him.
By selling it for Rs.143 per share taken for Rs.43, he had made a profit of Rs.5 lakh on 5000 shares and this was the first big earning of his career. According to an interview given to The Economic Times in the year 2009, Rakesh Jhunjhunwala wanted to make some big investments in 1989, looking at the stock market situation or rather the facts, but from 1986-1989 he earned only 20-25 lakhs. Had it.
After that, out of these four lakh shares, he sold about 2.5 lakh shares at the rate of 50-55 per share and 1 lakh shares at the rate of 150-175 per share, by then his earnings or net worth had increased from 2 to 2.5 crores. Even after that, Rakesh Jhunjhunwala continued to get success in the stock market, currently, stocks of many well-known companies are available in his portfolio, which he had bought at very cheap rates, that is why these stocks are earning a lot for him.
Rakesh Jhunjhunwala’s Investing Style:
Talking about the investment style of Rakesh Jhunjhunwala, his style is such that invest first then check because he believes that sometimes the market gives us an opportunity to earn money in such a way where you have to buy the stock in the first moment itself. And it has to be checked later. Investing in Dewan Housing and Lupine is part of his investing style.
The same style of “invest first, investigate later” is also exposed by his statement during an interview in which he said that on a proposal of a beautiful girl, everyone would like to date her and not think about the consequences. Similarly, in the very first moment in which you think that this stock can earn you, you should buy it and check it later.
Apart from this, he believes that before investing in any company, its four factors should be analyzed product demand, entrepreneurship, required capital, and price of shares. Most of their investments are in India-oriented companies, which shows that they believe that if the country grows, they will also grow.
Rakesh Jhunjhunwala also believes that we should not ignore obsolete companies in the stock market, but the most important thing is how cheaply you bought the stock, it also says that the person who invests should not lose his greed and It is very important to strike the right balance between the fear of losing money.
The wife has a special connection with the company
In the year 1987, Rakesh Jhunjhunwala married Rekha Jhunjhunwala, who is herself a stock market investor. In the year 2003, Rakesh Jhunjhunwala started his own stock trading firm ‘Rare’ Enterprises. His wife’s name has a special connection in naming Rare Enterprises. In fact, he kept the first letter of his name from ‘Ra’ and the first letter of his wife’s name from ‘Ray’ in Rare Enterprises. Rakesh Jhunjhunwala has three children.
Rakesh Jhunjhunwala passed away
On August 14, 2022, when the whole country was busy preparing to make Amrit Mahotsav on Independence Day (15, August 2022). So in the morning, the news came that Rakesh Jhunjhunwala, who was called the Warren Buffett of India, is no longer with us. It is being told that Rakesh was suffering from a kidney problem, and on August 14, when his family members felt that his health was deteriorating.
So they took him to Breach Candy Hospital in Mumbai, where he died at around 6:30 in the morning. Doctors have stated the cause of death as multiple organ failure due to kidney problems.
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