The Biggest Stock Investor of India - Rakesh Jhunjhunwala Dies at 62 years

Rakesh Jhunjhunwala, the veteran stock market investor and trader of India, passed away on Sunday morning. He was 62 years old and had kidney problems. He was reportedly receiving dialysis on a daily basis since both of his kidneys were failing.

He was one of the richest men in India, a businessman, and a chartered accountant. Jhunjhunwala served as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services in addition to serving as chairman of Hungama Media and Aptech.

In 1985, Jhunjhunwala made a capital investment of Rs 5,000. By September 2018, that capital had increased to Rs 11,000 crore.

When he bought 5,000 shares of Tata Tea in 1986 for Rs 43, he made his first sizable profit because the price increased to Rs 143 within three months. He more than tripled his earnings. In three years, he made 20–25 lakh rupees.

Over the years, Jhunjhunwala has made profitable investments in companies including Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC.

A lot of people questioned why he planned to start an airline when aviation was not doing well, to which he replied, "I say I'm prepared for failure."