Rakesh Jhunjhunwala, called "The Big Bull of the Stock Market," died today, at the age of 62. At 6.45 am, the Breach Candy Hospital in Mumbai confirmed that Rakesh Jhunjhunwala had passed away. By making investments in the stock market, Rakesh Jhunjhunwala has earned great wealth and fame. Millions of investors were inspired to invest in the stock market by him.
Rakesh Jhunjhunwala invested a small amount of rupees in the stock market and built a business worth billions. Initially, when he asked his father to invest money, he declined. Rakesh was advised by his father Radheshyam Ji Jhunjhunwala to work hard to gain money if he wanted to invest. But, there is no need to take or borrow money from anyone. Rakesh Jhunjhunwala entered the stock market a few days later with some money.
In 1985, he entered Mumbai's Dalal Street with just 5,000 rupees. With the same 5,000 now, he has grown a business worth billions.
Story of India's Big Bull
Initially, Rakesh Jhunjhunwala, a chartered accountant by profession, profited significantly from Tata T, a Tata Group company. He purchased 5,000 shares of Tata T at a price of Rs. 43 at the time, and he sold them at a price of Rs. 143 a short time later. In a similar manner, he purchased shares of other companies at a low price and later sold them at a profit. In a short period of time, made a large profit. Following that, he made an investment in Tata Titan, which turned Rakesh Jhunjhunwala into a huge bull. Jhunjhunwala possessed over 4.5 billion shares in Titan or more than 7,000 crores.
In 2003, at Rekha's encouragement, he established his own stock trading business, Rare Enterprises. He added the first two letters of his and his wife Rekha's names to the name of the organization.
He did 'Ra' from Rakesh; 'Re' was included in the line. Rakesh became known as the "Big Bull" of the stock market because he consistently made the right choices, invested in companies with the potential to be multi-baggers, and changed his portfolio as needed.
Launching Akasa Airline was Rakesh Jhunjhunwala's dream project. On various occasions, he has mentioned the launch of Akasa Air's flight services. Akasa took the inaugural flight between Mumbai and Ahmedabad on August 7 itself. Rakesh Jhunjhunwala, the airline's largest shareholder, passed away exactly 7 days after this.