‘Pied Piper of Indian bourses’- Also known as the Warren Buffet of India
Rakesh Jhunjhunwala is the chairman of Aptech Ltd. and HungamaDigital Media Entertainment Pvt. Ltd. He is an investor and trader in India. As a charted accountant he manages his own portfolio in Rare Enterprises, which is his asset management firm.The name is derived from the first two letters of his name and his wife’s name Rekha Jhunjhunwala.
He also serves in the board of directors for companies like Prime Focus Ltd., Geojit BNP Paribas Financial Services Ltd., BilcareLtd., Praj Industries Ltd., Provogue India Ltd., Concord Biotech Ltd., Innovasynth Technologies Ltd., Mid-Day Multimedia Ltd.,Nagarjuna Construction Company Ltd., Viceroy Hotels Ltd. and Tops Security Ltd. Nobody misses out on a stock that Rakesh has invested in. From traders to analysts assumed that the investmentswere multi-bagger ideas.
Rakesh was born on 5 July 1960 and was brought up in Mumbai. His father was an Income tax officer. His father was very fascinated about stocks due to which he developed interests in stock market. But before that his father asked him to get qualified to understand the stocks better. He completed his graduation from Sydenham College.
Later he was enrolled with the Institute of Chartered Accountants of India according to his interests. His father suggested him to earn and trade himself rather than taking money from elsewhere.
He started his career in the year 1985 when the BSE Sensex was at 150. He made his first biggest profit when he bought Tata Tea shares with the price of 43 and sold it at 143. He made 0.5 Million in a span of 1 year from his starting point of the career. Later in a span of 3 years he earned about 20 Million. Later he bought Sesa Goa shares which were an iron mining company for about 400,000 shares. This increased a worth of 10 Million which held a strong pick up in shares.
“If you don’t believe the markets are supreme, you will never admit that it was your mistake. If you don’t admit that it is your mistake, you will never learn.The markets are temples of capitalism and must believe that they are the ultimate arbiters”Says the pin up boy of the current Bull Run – Rakesh
He always believed in power of mistakes as a human being we learn from our mistakes.He faced many issues while his company stocks fell up. Later with his intelligence he overcame all the losses. These losses have carved him to become a better investor. He believed that the Indian economy will grow by 9-10 percent in 2-3 years of time. He always checks the market and the trade to keep him updated.
He also has stakes in Sameer Gehlaut’sIndiabulls Housing Finance. He also bet’s on mortgages and pledged to donate $1.8 million to Ashoka University. He also co-producedShamitabh in which Amitabh Bachchan was the legendary actor.