Rakesh Jhunjhunwala, India's veteran businessman and called the 'Big Bull' of the stock market, passed away at the age of 62.
He breathed his last in Mumbai today. He had been ill for a long time. He was last seen in public at the opening ceremony of Akasa Air.
He was also called the Warren Buffett of the Indian stock market.
Indian stock market was called 'Big Bull'
Rakesh Jhunjhunwala was also the owner of his own stock trading company Rare Enterprises. Big Bull was the biggest investor in stocks like Titan, Star Health, Tata Motors and Metro brands.
Jhunjhunwala first entered the stock market in 1985. He invested 5 thousand rupees and made his first profit in 1986
He bought Tata Tea shares at Rs 43 and sold them after three months at Rs 143 per share. Rakesh Jhunjhunwala held about 40 percent shares in Akasa Airline
s. Akasa Airlines took the first flight in the Indian skies between the Mumbai-Ahmedabad route on 7 August.
There was a program of 'The Confederation of Indian Industry' (CII) in Delhi. Veteran investor Rakesh Jhunjhunwala had philosophically predicted 3 'M'.
The prediction is that no one can make accurate predictions about these three 'M'. These three 'M's were the weather, death and the market.