Veteran investor Rakesh Jhunjhunwala is celebrating his 61st birthday today on July 5. Jhunjhunwala, known as the Warren Buffet of India, was born in a middle-class family to an Indian tax officer and started trading in the stock market in 1985 while still in college. BSE Sensex was around 150 points at that time and at that time he started stock market trading with a capital of only 5 thousand rupees. Talking about today, according to Forbes, the assets of Rakesh Jhunjhunwala have been $ 4600 million (Rs 34,387 crore) as of July 3, 2021.
Rakesh Jhunjhunwala got the first biggest profit from Tata Tea, which made him a profit of Rs 5 lakh in 1986. He had bought 5 thousand shares of this company for Rs 43, which gave more than three times returns within just three months. Its share price had reached Rs 143 in just three months.
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Rakesh Jhunjhunwala was once the beer of the market
Big Bull Jhunjhunwala was a bear in the stock market during Harshad Mehta’s days and made huge profits through stock shorts when the Harshad Mehta scam was exposed in 1992. In a video interview, Jhunjhunwala had revealed that he had made a lot of money through short selling. In the 1990s, there were several reputed cartels in the Indian stock market. One such cartec was that of Manu Manek which was a beer cartel. Manu Manek’s cartel was called Black Cobra and it was also followed by Radhakishan Damani and Rakesh Jhunjhunwala. The stock market crashed after journalist Sucheta Dalal had exposed Harshad Mehta’s scams.
20 thousand crore holdings in 37 stocks
In 1987, Rakesh Radheshyam Jhunjhunwala married Rekha Jhunjhunwala of Andheri who is a stock market investor. In 2003, Rakesh Jhunjhunwala started his own stock trading firm Rare Enterprises. Its name was derived from Rakesh’s RA and Rekha’s RE. As on 31 March 2021, Rakesh Jhunjhunwala & Associates has investments in 37 stocks, including Titan Company, Tata Motors, Crisil, Lupine, Fortis Healthcare, Nazara Technologies, Federal Bank, Delta Corporation, DB Realty and Tata Communications. According to Trendline, there is an investment of Rs 19,695.3 crore in these 37 stocks. Jhunjhunwala’s highest investment is in Titan Company, in which his holding value is Rs 7879 crore, followed by Tata Motors with Rs 1474.4 crore and CRISIL with Rs 1063.2 crore.
Big bulls are bullish on the banking sector
Rakesh Jhunjhunwala is very bullish about the banking sector. Even he is bullish on inefficient banks. In a recent TV interview, Jhunjhunwala had said that the cost-income ratio of inefficient banks is very high which will be less. Apart from this, he has estimated that the country’s nominal GDP will grow at the rate of 14-15 percent this year and it will grow at the rate of 10-12 percent in the coming years. In the last few years, Big Bull has been adopting a bullish stance regarding the structural changes in the country. Jhunjhunwala believes that no such wave is going to come which will have any effect on the Indian stock markets. According to Big Bull, whether the wave comes or not, the Indian economy is ready to face any kind of crisis.
(Article: Surbhi Jain)
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