Incredible Story of Rakesh Jhunjhunwala (5000 to 50,000 CRORES)

Incredible Story of Rakesh Jhunjhunwala (5000 to 50,000 CRORES)
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Rakesh Jhunjhunwala OR the big bull, India's ace investor is a famous and wealthy Indian Businessman, an Investor, Trader and owner of Rare enterprises. Rakesh Jhunjhunwala is also known as “Warren Buffett of India” is the most famous and respected investor of India. According to Forbes, today, he is the 53rd richest person in India. In this video, we cover the biography or the Incredible Story of Rakesh Jhunjhunwala from just 5000 to 50000 crores in Indian stock market.
Mr Rakesh Jhunjhunwala is born on 5 July 1960 in a very middle-class family in Mumbai. His father was an Income tax officer. He is fascinated with stock marketing since childhood. Whenever his father and business partners use to have a conversation regarding investment and stock marketing, he used to ask questions to his father out of curiosity, such As Why shares go up-and-down? His father always clarified all his doubts in detail. He has completed his graduation from Sydenham College of Commerce and Economics, Mumbai. After completing Chartered Accounting in 1985, he asked his father about starting a career in stocking marketing. Then, his father told him a few important things that still help him in his career. His father said to him:

” Always do what you are interested in”.
” Never come to my friends and me to ask for money.”
His father encouraged him and said, “Be fearless”.

When Rakesh Jhunjhunwala started his career, he had only 5,000 rupees in the pocket. That time his brother, who was practising chartered accounting had a great client. That lady had a big capital and wanted significant returns. That time, the bank used to give 10% returns in a deposit. Rakesh offered her to give 18% returns per year because of this Rakesh got 2,50,000 rupees from that lady. He also took 5,00,000 rupees from one another person, and that’s how one by one he arranged his initial capital. In the beginning period of his career, Rakesh earned 8 to 10 lakh rupees by trading.

Then, he established Rakesh Jhunjhunwala company called Rare Enterprises, an asset management firm from where he manages his own portfolio. Rare stands for the beginning letter of Rakesh Jhunjhunwala and Rekha Jhunjhunwala. In 2002-2003, he purchased Titan Company (a big jewellery brand) shares in 4.5 rupees per share average price. Titan stock increased to 80 rupees then fell to rupees 30 after some time. Due to this, the value of Rakesh Jhunjhunwala portfolio deprived to over 300 crore but, he didn’t sell even a single share in the price of rupees 30. Because he believed that Titan would definitely grow.

Today the price of Titan shares is around 2400 rupees.