Warren Buffet of India - Rakesh Jhunjhunwala
Rakesh Jhunjhunwala - King of Indian Share Market and Warren Buffet of India
He started with Rs 5000 and today he owns Rs. 16,000 crores. Today he is so powerful that he can influence Indian market alone as many market investors follow his advice. Today he is one of the richest people in India. Today he is India's 53rd richest person.
Today we are going to learn how Mr. Jhunjhunwala converted his Rs. 5000 to . 16,000 crores. He was born on 5 July 1960 at Mumbai. His father was an Income Tax officer who also had interest in Share Market. He always used to talk about share market with his friends. So at the age of 14, Mr. Jhunjhunwala inquired about share marked from his father. He advised Mr. Jhunjhunwala that it is not easy to understand Share Market, for this we need to read newspapers daily in order to get well informed about the share market and companies. Gradually Mr. Jhunjhunwala developed interest in Share Market and as per his father's advice, he started reading newspapers about share market and once he gained enough knowledge, he told his father about his interest to get in to share market, but his father denied his request and told him to finish his professional education first, then you can pursue your interest. Then he completed his graduation first. Then in 1985, he became a chartered accountant. Now it was time for him to get into Share Market. At that time he had not much money to invest, so he first started with an investment of just Rs. 5000. At that BSE sensex was at 150 points, but he first made his first profit in 1986. He bought 5000 shares of Tata tea at the rate of 43/share and then he sold it just after 3 months at the rate of 143, with which he made the profit of Rs. 5 Lakhs. Then from 1986 to 1989 he made around Rs. 25 lakhs and then in few years his wealth grown to crores. His life's major turning point came in 2002 - 2003, when he bought 6 crore shares of Titan Company at the rate of Rs. 3/share and then the share price gone up to Rs. 390 per share, from which he made a profit of Rs. 2100 crores. It is not true that he was always able make such profit in his trading, in December 2011, he has invested lots of money big companies, in which most of the company stocks fell drastically by up to 30%, but then by February 2012, he recovered his loss, and again due to demonetization he had a big loss, still after all these ups and downs his current networth is around 16 thousand crores and he is 53rd richest person in India. He only goes by only one law, "Buy right and hold tight." He is now the chairman of Aptech and he has produced three movies too.
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