Ace investor Rakesh Jhunjhunwala passes away at 62

India

oi-Deepika S

New
Delhi,
Aug
14:
Ace
investor
Rakesh
Jhunjhunwala
passed
away
on
Sunday
morning.
He
was
62.

Jhunjhunwala
is
popularly
referred
to
as
the
“Big
Bull
of
India”
and
the
“King
of
Bull
Market”,
and
is
widely
known
for
his
stock
market
predictions
and
bullish
outlooks.
He
was
suffering
from
multiple
health
issues
including
kidney
ailments
and
had
been
discharged
from
the
hospital
a
few
weeks
ago.

Jhunjhunwala’s
interest
in
stock
markets
arose
when
he
observed
his
father
discussing
the
markets
with
his
friends.
While
his
father
guided
him
on
the
markets,
he
never
gave
him
money
to
invest
and
forbade
him
from
asking
friends
for
money.
With
his
savings
at
hand
Rakesh
started
investing
early
when
in
college.
Beginning
with
Rs
5,000
capital
in
1985,
today
his
investment
has
grown
to
Rs
11,000
crores.

Besides
being
an
active
investor
Jhunjhunwala
is
the
chairman
of
Aptech
Limited
and
Hungama
Digital
Media
Entertainment
Pvt.
Ltd.
and
sits
on
the
board
of
directors
of
Prime
Focus
Limited,
Geojit
Financial
Services,
Bilcare
Limited,
Praj
Industries
Limited,
Provogue
India
Limited,
Concord
Biotech
Limited,
Innovasynth
Technologies
(I)
Limited,
Mid
Day
Multimedia
Limited,
Nagarjuna
Construction
Company
Limited,
Viceroy
Hotels
Limited,
and
Tops
Security
Limited.

The
first
big
profit
of
Rakesh
Jhunjhunwala
was
Rs
5
lakh
in
1986.
Between
1986
and
1989,
he
earned
almost
Rs
20-25
lakh
profit.

As
of
2021,
his
biggest
investment
is
in
Titan
Company
which
is
worth
Rs
7,294.8
crore.[12]

Currently,
he
is
a
member
of
the
Board
of
Advisors
of
India’s
International
Movement
to
Unite
Nations
(I.I.M.U.N.).

Akasa
Air
is
an
Indian
airline
co-founded
by
Rakesh
Jhunjhunwala
and
former
Jet
Airways
CEO
Vinay
Dubey.
The
airline
currently
has
2
aircraft
with
additional
order
for
70
more
aircraft
and
flies
to
3
cities
as
of
9th
Aug
2022.