Rakesh Jhunjhunwala also termed as The Big Bull of Indian Market passes away

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Rakesh Jhunjhunwala, the big bull of Dalal Street, was one of India’s richest persons and a self-made millionaire who began investing with 100 in 1985. With a net worth of $5.5 billion, Jhunjhunwala is among the top 500 richest billionaires in the world, according to Forbes’ real-time billionaires index. Jhunjhunwala, a chartered accountant by training, was the chairman of Hungama Media, Aptech, and served on the boards of other Indian corporations. He also served on the boards of various corporations, including Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.Jhunjhunwala, the son of an income tax officer, began dabbling in stocks while still in college. In 1985, when the Bombay Stock Exchange Index was at 150, he began his financial career with a 100. After hearing his father discuss the financial market with his friends, Jhunjhunwala became interested in it. The ace investor once stated that his father advised him to read newspapers on a daily basis since it was the news that caused the stock market to fluctuate.Jhunjhunwala owns RARE Enterprises, a privately held stock trading business named after his first two initials and those of his wife, Rekha. Jhunjhunwala has made investments in Titan, CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, Geojit Financial Services, Rallis India, Jubilant Life Sciences, and other companies over the years. His new airline, Akasa Air, took its inaugural flight last week; regrettably, he will not be around to witness the triumph of India’s most affordable airlines.

By Subhechcha Ganguly