Rakesh Jhunjhunwala No More: The Top Investments Of 'India's Warren Buffett'

RIP Rakesh Jhunjhunwala: The ace industrialist entered the stock market in 1985 with just Rs 5,000, but his capital increased to Rs 11,000 crore by September 2018.

By Aalok Sensharma
Updated: Sun, 14 Aug 2022 03:25 PM IST
Minute Read
Rakesh Jhunjhunwala No More: The Top Investments Of 'India's Warren Buffett'
Rakesh Jhunjhunwala was 62-year-old. (Image courtesy: Twitter - @virendersehwag)

Rakesh Jhunjhunwala, who had a net worth of $5.8 billion (nearly Rs 46,000 crore), passed away on Sunday morning due to a cardiac arrest. The 62-year-old was taken to the Breach Candy Hospital in Mumbai at around 6.45 am where he was declared brought dead by the doctors.

Born on July 5, 1960, Jhunjhunwala was often known as the 'Big Bull' of the Dalal Street. The ace industrialist, who grew up in Bombay, entered the stock market in 1985 with just Rs 5,000, but his capital increased to Rs 11,000 crore by September 2018.

According to Forbes, Jhunjhunwala was the 36th richest person in India in 2021. He was also the world's 438th richest man. During the time when he entered the stock mark, the 30-share BSE Sensex was trading at 150. On Friday, the index had closed at 59,462.78 points.

In 1986, he made his first significant profit of Rs 5 lakh. Purchasing shares of Tata Tea for Rs 43, he sold them for Rs 143 that year. In 2002-03, 'India's Warren Buffett' purchased Titan Company Limited for an average price of Rs 3. He now owns more than 4.4 billion shares of Titan.

Jhunjhunwala, who had a stake in 47 companies at the end of the June quarter, also invested in LUPIN in 2006 for Rs 150 per share. It is currently trading at Rs 635. Last year in the September quarter, he invested in three stocks - Nalco, Canara Bank, and Indiabulls Real Estate.

In December 2021, Jhunjhunwala also invested his money in Star Health and Allied Insurance and Metro Brands. The Big Bull of the Dalal Street has also invested in the Steel Authority of India Limited (SAIL).

Recently, the 'Oracle of Dalal Street' entered the aviation industry and invested in Akasa Air, the country's newest airline. Along with former IndiGo president Aditya Ghosh, Jhunjhunwala is the co-founded the Akasa Air and has a 40 per cent stake in it.

A lot of people questioned why he planned to start an airline when aviation was not doing well, to which he replied, "I say I'm prepared for failure." He was always bullish about India's stock market and whatever stocks he purchased mostly turned into a multibagger.

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