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In the early 2000s, he purchased Titan Company shares at Rs 30-Rs 40 apiece and the investment eventually delivered returns of over Rs 15,000 crore
Rakesh Jhunjhunwala was born on July 5, 1960, in Mumbai to a middle-class Marwari family. (PTI Photo)
Rakesh Jhunjhunwala, fondly called the ‘Big Bull’ of Dalal Street, transformed a modest investment of just Rs 5,000 into a fortune exceeding Rs 40,000 crore, leaving behind one of the most inspiring legacies in the stock market history.
Born on July 5, 1960, in Mumbai to a middle-class Marwari family, Jhunjhunwala grew up watching his father, an Income Tax Department officer, discuss the stock market with friends. Those conversations ignited his curiosity about equities. On his father’s advice, he began reading newspapers daily to sharpen his understanding of business and market trends.
Although he qualified as a chartered accountant after studying at Sydenham College, Jhunjhunwala shunned the security of a stable job. Instead, he plunged into the volatile world of stocks. His first investment, funded by borrowing Rs 5,000 from his brother, marked the beginning of a remarkable journey.
In 1986, he took a bold gamble, raising additional capital from market experts at steep interest rates. His maiden big win came with Tata Tea, bought at Rs 43 a share, it surged to Rs 143 within three months, netting him about Rs 5 lakh. He followed this with smart bets on Tata Power and Sesa Goa.
But his most iconic move came in the early 2000s, when Titan Company was struggling. Trusting the brand’s long-term potential, he purchased shares at Rs 30-Rs 40 apiece, an investment that eventually delivered returns of over Rs 15,000 crore.
“Always go against the crowd. Buy when everyone is selling and sell when everyone is buying,” Jhunjhunwala’s simple yet powerful mantra became synonymous with his investing style.
Through his firm RARE Enterprises, named after himself and his wife Rekha, he invested in several market leaders, including Star Health, Metro Brands, Tata Motors and CRISIL. From the 1992 securities scam to the 2008 global financial crisis, Jhunjhunwala demonstrated an uncanny ability to identify resilient companies during turbulent times.
In 2021, he ventured into aviation with Akasa Air, which became the world’s fastest-growing airline within a year. By the time of his passing in 2022, the Sensex had crossed the 59,000 mark, up by 150 points. In 2023, he was posthumously awarded the Padma Shri.
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