The Story of the Big Bull: Rakesh Jhunjhunwala
Rakesh Jhunjhunwala’s life is an impressive story about a child from a deprived household of a middle-class tax official and his entrance into Forbes’ 2002 Millionaire List. It is also called the Warren Buffet in India. He is the president of Hungama Media and Aptech as the 54th richest man in India. She also serves on the board of directors of companies such as Viceroy Hotels and Concord Biotech (Source: Wikipedia).
Rakesh Jhunjhunwala’s dad was a tax officer for revenue, showed curiosity, and frequently debated business movements with his friends. Young Rakesh Jhunjhunwala got perfumed at an early age with those talks and became fond of the markets.
His father would ask him about the whole financial market and how it was surrounded by business. He became a chartered accountant at the first chartered accounting Institution of India, after his graduation in a trade from Sydenham College, from his young age (ICAI).
The Ring was joined by the Big Bull.
He wanted to hop headlong on Dalal Street after he reached his degree. As its starting capital, Jhunjhunwala spent in 1985 Rs 5,000. The wealth produced with its network in September 2018 was estimated at ~INR 11,000 Crs.
The father told Jhunjhunwala that he would read newspapers daily because the news fluctuated in the stock market. His father allowed him to go to the stock market but denied financial assistance and discouraged him from asking for money for his friends.
But from the very beginning, Jhunjhunwala was a risk-taker. He borrowed money from clients of his brother and vowed to give the cashback more income than the fixed deposit given by banks.
Each trader remembers and binds closely to their hearts their initial trading and investment. In 1986, when it purchased 5,000 shares of Tata Tea in Rs 43, he gained his first major profit for the Big bull, although in three months, the stock increased to Rs 143. It was his first 3+ bagger. It was his first.
In addition to its investment in Titan, JhunJhunwala has invested in CRISIL, Sesa Goa, and Praj Industries.
A Story of Titan
Titan is one of the assets in which more than three digits of returns were made. His passion for Titan Corporation (formerly Titan Industries) started 21 years ago is a big investor. I promise, his journey in Titan(ic) is going to leave you spellbound for days. Since 2002, he purchased 6 crore shares at an average Rs.5 amount.
In 2003, he thought that India will rise by 8% a.s. And the FMCG market will be strongly moved. Titan was 60% of the consolidated watchmaking industry at that stage and had an insignificant share of the gem market.
On 20 October 2020, the stock is being exchanged at INR 1,233.50. Your calculator can give you a headache when measuring the percentage returns.
Mr. Radhakishan Damani and his father have mentored Rakesh Jhunjhunwala to the greater part of his performance. The owner of Indian Retail Giant D-Mart is Mr. Radhakishan Damani, a dedicated businessman, and entrepreneur. The so-called 3-R’s under Mano Manek’s bear cartel were Radhakishan Damani, Rakesh Jhunjhunwala, and Raju (A chartist). Manu Manek was one of the Bombay Stock Exchange’s leading managers.
Towards investment and exchange
Trading and investing are art which needs you to be innovative and to be flexible with competitive markets at the same time.
The business strategy of Rakesh Jhunjhunwala is simple but elegant. It is the mom with all the riches that he identifies with trading and says that it is the principal source of investment capital. Not everybody knows he is as shrewd a broker as an investor, which distinguishes him from other financial-market global giants. He can easily turn hats and refer to a stock, product, or index, even when evaluating the growth and opportunities for future investment or the economy.
The lender typically holds 5% of his debt portfolio. “But I have held a debt of at least 40% in my portfolio between September 2001 and September 2003,” Jhunjhunwala said during one case, showcasing its versatility and its approach to various market conditions.
Just as the markets go up and down, the portfolio of Rakesh Jhunjhunwala is up and going on Dalal Lane. There has never been a good investor or trader on a smooth journey, big downturns are part of it. During the recession of 2008, his portfolio decreased by 30%, but by 2012, he recovered.
He has an amazing skill at the right time to use leverage and to take big risks and positions when he thinks like he has an asymmetrical opportunity. Around the same time, he’s wrong whether the place or trade goes against him Because he’s right. He also states, “you don’t argue about the value in trading.”
Warren Buffet has contributed nearly half of its income to a foundation, well known for his savings and philanthropy. Rakesh Jhunjhunwala’s underlying link with Warren Buffet is its steadfast conviction that civilization is returned.
His portfolio encompasses diet and preparation. By 2020, Jhunjhunwala plans to donate 25% of its assets to charities. Its philanthropy ensures that children with cancer run shelter and information about sexual abuse by children. He supports Ashoka University, Tribal Friends, and Olympic Gold Hunt. He has been constructing an eye hospital for 15,000 free eye surgeries in Navi Mumbai.