Journey form 5000 rupees to 16000 crore rupees. Rakesh Jhunjhunwala who is also known as the king of the stock market of the Warren Buffet of India was born on 5th July 1960 in Mumbai, India.
His father was an income tax officer and he also had an interest in the stock market. His father always used to talk to his friends about stacks and Rakesh at the age of 14 asked his father that what is share market and to this his father said to him that to understand about the stock market is not easy and he asked Rakesh to read newspapers that will keep him updated about the news of the companies and said that before investing money in any of the companies we need to be informed well about that company.
As the time kept passing Rakesh’s interest in stock market kept on growing. He started keeping himself updated about the companies and always kept himself informed about the news of the various companies.
After sometime Rakesh said to his father that he wants to invest in stock market but his father was against this at that moment and asked him to first compete for his higher(professional) education. So Rakesh completed his graduation from Sydenham College and became a CA in 1985.
After completing his studies Rakesh decided to start his investing career in the stock market but he was not having much money to invest so his first investment was of 5000 rupees. At that time BSE SENSEX was at 150 points.
Rakesh earned his first big profit in 1986, he bought 5000 stocks of ‘Tata Tea’ at the rate of 43 rupees per share and after only 3 months he sold them at the rate of 143 rupees per share and due to this he earned a profit of 5 lakh rupees and in between 1986 to 1989 he earned a profit of 25 lakh rupees by investing in various companies. And only after a few years his net worth was in crores.
The biggest turning point of his life came in 2002-2003 when he bought 6 crore shares of ‘Titan’ at the rate of 3 rupees per share and after some time the price of that share came to 390 rupees from 3 rupees and due to this, he earned a profit of 2100 crore rupees. But he was not in profit every time, he also has faced huge losses. In December 2011 the companies in whose stocks he has invested in fell by up to 30% but by acting sharply he recovered those losses in less than 3 months, i.e, by February 2012. And recently due to the demonetization, he has also faced a big loss. But by acting smartly and overcoming the obstacles the net worth of Rakesh Jhunjhunwala now is more than 16000 crore rupees and he is India’s 53rd richest person. Rakesh.
Jhunjhunwala says “buy right and hold tight” which means invest in good companies and keep yourself invested for a long period of time. Besides being an investor Rakesh is the chairman of Aptech limited and Hungama digital media. He is also the producer of the movies ‘Ki & Ka’, ‘English Vinglish’ and ‘Shamitabh’. Rakesh due to his determination and hard work has achieved that position in his life that he does not need any introduction. He is an idol for many people and his story is a proof that to attain something big in your life you do not need to have much money.