Rakesh Jhunjhunwala is a well-known figure in the Indian Stock Market.He is also known as the Warren Buffet of the Indian Stock Market.He started out in the Indian Stock Market in 1985 when the Sensex was 150 points.His father was an income tax officer.His father was also interested in Stocks.He got interested in the stock market from the discussions of his father with his friends.Every evening his father and his friends used to drink and used to discuss the Stock Market.Rakesh Jhunjhunwala as a kid used to listen to their discussions intently.
One day he asked his father how the price of the stocks fluctuate.His father asked him to check if there was any news on Gwalior Rayon on the newspaper.And if there was any news on Gwalior Rayon then the price of the stock would fluctuate the next day.This was his first lesson and he got fascinated in stocks in this way.Then there was no turning back.He wanted to join the stock market then.He asked his father if he can choose his career in the Stock Market.His father said him to do whatever he wanted to do in his life, but before that he should get professionally qualified.Rakesh then joined the Chartered accountancy course and completed it by 1985.
Then he told his father that he want to go in the Stock Market.His father said not to ask him or any of his friends for money.He told him that he could live in a house in Mumbai and if he did not do well in the Markets then he could fall back to his CA qualification. There was a sense of security for him because of his degree.
He started trading stocks with his money.His first biggest gain was selling 5000 shares of TATA TEA for Rs.143 each which he purchased each for Rs.43 just 3 months back.This gave him his first 5 Lakh profit.5 lakh was a big amount back then.His next bet was Sesa Goa.The iron ore industry was depressed.The stock price came to the level of Rs.25.There was a projection that the price of the stock is about to zoom.But he did not have the capital to invest in it.In 1986 the market went into a depression for 2-3 years.He put his money in Tata Power and the price of the stock became Rs.1100-Rs.1200.Then he sold those stocks to purchase 4 lakh shares of Sesa Goa which is thought to be his major bet.The prices went up and he sold 2 to 2.5 lakh shares at Rs.65.He sold another 1 lakh shares in between Rs.150 to Rs.175.The prices then went up to Rs.2200 and he sold some of the left shares.Now his net worth was about Rs.2 to Rs.2.5 crore.
Rakesh Jhunjhunwala then brought 6 crore shares of Titan at an average price of Rs.3 back then.Now the stock is currently trading at Rs.370.This made a staggering amount of profit for him.There are a lot of stocks in his portfolio which made a large amount of money for him.Some of the stocks are Lupin,Crisil etc.
Today his portfolio is worth above Rs.8000 Crore and is managed by Rare enterprises.He is a well know trader as well as an investor who made such a staggering amount by investing and trading in the stock market only.He now sits on the board of directors of many Indian companies.He is currently the chairman of Aptech and Hungama Digital Media Entertainment Pvt. Ltd.He is even among the producer of Ki and Ka released in 2016.