The Big Bull

August 20, 2022

Warren Buffett of India

Rakesh Jhunjhunwala was a very famous and respected Indian Businessman, an Investor, Trader and owner of Rare enterprises. Rakesh Jhunjhunwala was also known as 'big bull' and 'Warren Buffett of India'. Jhunjhunwala was India's 36th richest person in 2021 and 438th richest man in the world, so far in 2022, according to Forbes.

His father was an income tax officer, He was fascinated with stock marketing since childhood and he started dabbling in stocks while still in college. He had completed his graduation from Sydenham College of Commerce and Economics, Mumbai. After completing Chartered Accounting in 1985, he asked his father about starting a career in stocking marketing. That time, his father told him a few important things that helped him in his career. His father said:

- ” Always do what you are interested in”.

- ” Never come to my friends and me to ask for money.”

- “Be fearless”.

His father always encouraged him. He started his career with 5000 rs in his pocket in 1985, Jhunjhunwala's first big profit came of ₹5 lakh in 1986. Between 1986 and 1989, he earned almost ₹20–25 lakh profit. By 2022, his investment had grown to ₹11,000 crores. At the time of his death, his net worth is estimated at $5.8 billion or 46,000 crore rupees. His first big profit came from the 5,000 shares of Tata Tea he bought in 1986. In three months, Jhunjhunwala tripled his money.

Jhunjhunwala began investing in the stock market in 1985, when he was 25 years old - he started off with $100 that he had borrowed from a relative, reports say. He later set up Rare Enterprises - the name was coined from the first two letters of his name and that of his wife Rekha. As of 2021, his biggest investment was in Titan Company which is worth ₹7,294.8 crore.

Besides being an active investor Jhunjhunwala was the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sat on the board of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited.[citation needed] He was also a member of the Board of Advisors of India's International Movement to Unite Nations (I.I.M.U.N.). He was co-founder of Akasa air, a low cost airlines of India.

Jhunjhunwala has also faced losses in his career. He was a risk taking person, he said "I am a risk taker and now that risk taking has become a habit. But you must leverage when you think the market is giving you unbelievable opportunities. But remember, if you go wrong, nobody is going to save you"

There are many well-known investors in the Indian stock market but if there is one name that undoubtedly occupies the top slot and probably has the maximum interest and following, it has to be Rakesh Jhunjhunwala, also known as the 'Big Bull' of the Indian stock market.

Late Jhunjhunwala has left behind a very strong legacy. While his passing away will have an impact on the market and he will be missed, he will be remembered for inspiring many young investors not only in financial markets but also in brands and marketing.

Credits - Bhakti Nikhate (FY Mech) 112110087

Sawri Vairale (FY Mech) 112110140

NOTE: -

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