• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, June 19, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home India News

Rakesh Jhunjhunwala, ‘Big Bull’ of Indian Stock Market, passes away at 62

by Thomas Babychan
August 14, 2022
in India News, Markets, News, Popular, Trending
Reading Time: 2 mins read
0
Photo of Rakesh Jhunjhunwala

Image Source: CNBC

TwitterWhatsappLinkedin

Indian investor and stock trader, Rakesh Jhunjhunwala, 62, passed away on Sunday at Breach Candy Hospital in Mumbai city.

You might also like

Gold Surges Toward Record High Amid Escalating Middle East Tensions and Economic Uncertainty

India Approves Starlink License Amid Satellite Internet Push

Mumbai Police Crack Down on Rapido, Uber Bike Taxis for Illegal Operations

Rakesh Jhunjhunwala, popularly known as ‘Big Bull’ and ‘Indian Warren Buffett’, reportedly suffered from ailments related to kidney and severe diabetes.

On August 14th 2022, he was rushed to the hospital due to uneasiness in health and was diagnosed with acute multiple organ failure from kidney problems. He passed away at 6:30 AM.

Rakesh Jhunjhunwala, who was born on 5th July 1960 in Hyderabad, Telangana, is the owner of asset management and stock trading private company named RARE Enterprises. All his investments and funding were managed and operated through RARE Enterprises.

He completed graduation from Sydenham College, Mumbai and went on to become charted accountant by profession.

With a net worth of 5.5 billion dollars, Rakesh Jhunjhunwala is the 36th richest man in India and a highly influential business magnate with close relationships with industrial and political leaders of the country.

On August 6th, Akasa Air, a low-cost Indian airline, founded and funded by Rakesh Jhunjhunwala, began its commercial flight operation between Mumbai and Ahmedabad.

Investment Journey

Rakesh Jhunjhunwala, who started following stock markets when he was studying in college, made his first investment of 5000 rupees in 1985. As his father had asked him not to borrow money from anyone to invest in the markets, Rakesh saved all the money he had for the first investment.

After one year, in 1986, he made first big profit as his investments gave a net profit of 5 lakh rupees.

The following three years were crucial in Jhunjhunwalas’ life as a stock trader and investor, as he made nearly 25 lakh rupees in profit between 1986 and 1989.

He bought 5000 shares of Tata Tea, owned by Tata Consumer Products, at a rate of 43 rupees per share. Within three months, the share prices of Tata Tea surged by over 140 rupees per share. Over the next three years, the shares of Tata Tea helped Jhunjhunwala earn more than 25 lakh rupees.

Even after 36 years since his first big profit, Rakesh Jhunjhunwala continued to hold stocks of various Tata Group companies in his, 11000 crore portfolio.

According to numbers released for the second quarter of the current financial year, Rakesh Jhunjhunwala owns stocks in 47 companies across various sectors. Out of these 47, 4 stocks are of companies under Tata Group – Tata Motors, Indian Hotels Company, Tata Communications and Titan.

Following his demise, Prime Minister of India, Narendra Modi wrote on Twitter,

Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti.

https://twitter.com/narendramodi/status/1558665063770505216?s=20&t=feZH-Dt7mBBxtsBI-F0nEg

Tags: Akasa AirBig BullRakesh JhunjhunwalaRARE Enterprises
Tweet54SendShare15
Previous Post

Man who builds his own broadband receives $2.6 million from the US government

Next Post

Nayara Energy posts Rs.3564 crore profit in Q1

Thomas Babychan

Thomas Babychan is an experienced business and economic journalist with a focus on international trade, stock market, banking, and multilateral organizations. He also has expertise in international relations and diplomacy.

Recommended For You

Gold Surges Toward Record High Amid Escalating Middle East Tensions and Economic Uncertainty

by Anochie Esther
June 18, 2025
0
Gold

Gold prices are edging closer to an all-time high as geopolitical tensions and economic concerns drive a global flight to safe-haven assets. In Asian trading, the precious metal...

Read more

India Approves Starlink License Amid Satellite Internet Push

by Ishaan Negi
June 18, 2025
0
Elon Musk’s Starlink may soon offer satellite internet services in India

Starlink, SpaceX's satellite internet division, is moving quickly to deploy its services in India in a historic step that would hasten the country's digital revolution. A recent high-profile...

Read more

Mumbai Police Crack Down on Rapido, Uber Bike Taxis for Illegal Operations

by Ishaan Negi
June 18, 2025
0
Ride-hailing platform Rapido becomes a unicorn following $120 Mn funding

In a dramatic turn of events, Mumbai’s bustling streets have become the battleground between law enforcement and two of India’s biggest mobility players—Rapido and Uber. On Tuesday, the...

Read more
Next Post
Nayara

Nayara Energy posts Rs.3564 crore profit in Q1

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?