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Hello Hi Friends, Rakesh Jhunjhunwala was known by the name of 'Slap'. Rakesh Jhunjhunwala, who was interested in the stock market since childhood, was born on 5th September 1968 in Mumbai. His father was an Income Tax Officer. After listening to stock market related discussions between his father and his friends, he used to ask questions to his father for the purpose of learning.
His father used to explain different concepts to him by answering his questions. After graduating from a slum college in Mumbai and completing CA in 1995, he expressed his desire to make a career in the stock market to his father. Rakesh Jhunjhunwala's father taught him some lessons which he earned throughout his life.
Firstly, he told him to do only what he is interested in. You should not ask for money from me or my friends. Thirdly, Rakesh Jhunjhunwala always kept this lesson in mind. At that time, Rakesh had a total of ₹5000. At that time, Rakesh had learnt typing. He had a good amount of capital which he was able to invest for good returns.
The current rate on bank deposits was 10%. Rakesh offered her Amrit Roll at 98%. That lady invested Rs. 2.5 lakhs. Apart from her, he also took an investment of Rs. 5 lakhs from another person. Thus he established his commercial capital. In the initial days, Rakesh earned Rs. 8 to 10 lakhs by trading.
The next few years did not bring much profit. In 1998, he bought 2.5 lakhs of Vedanta i.e. Sesa Goa at Rs. 25 and 2.5 lakhs of F-35 at that. In six months, the chip price went down to Rs. 65. In 1990, Prime Minister Narendra Modi was the Finance Minister and his Union Budget of 1989 was the biggest turning point in his career for Sahara.
Everyone assumed that the budget would focus on social audit, hence everyone was unsure about the market. But Rakesh Jhunjhunwala knew that VP Singh, being a Thakur of the then PM, understood business well. Rakesh knew that VP Singh would never bring such a budget that would harm the business and that is what happened.
Mr. Jhunjhunwala did very well. In just five months after the budget was presented, Rakesh Jhunjhunwala's net worth grew from 2 crores to 40-50 crores. He then founded his own asset management firm, Ray Enterprises. The name Ray Enterprises is derived from the first two letters of both Rakesh and his wife Rekha's names.
In 2002-2003, he bought the stock of Titan, a renowned jewellery brand, at ₹4.50, which later rose to ₹80. However, the stock price later fell to ₹3. This fall resulted in a loss of approximately ₹300 crores in his portfolio. However, he had high expectations of acquiring Titan, so he retained his holdings.
Today, Titan's market price is around ₹400. Rakesh Jhunjhunwala has always shown patience in his investments, and with Titan, he demonstrated this patience in another investment. In 2005, he invested ₹27 crore in Crisil and bought a flat in Mumbai's Malabar Hills. He sold it at a profit. However, he believes that the investment he made with Krishna's blessings will be worth ₹100 crore.
Had he been allowed to be martyred, his value today would have been around 700 to 800 crores, whereas the price of that flat today is 70 to 80 crores. He believes that we learn only from our experience. Rakesh Jhunjhunwala, though known for his long-term investments, initially increased his capillaries through trading.
He believes that trading keeps him happy. He finds peace in multibaggers like CRISIL, Praj Industries, etc., which have given him multiple gains. He never advises getting emotionally attached to any stock and he himself is not very tense about the stock market with minerals. According to him, investing is the most interesting profession.
Apart from being an investor, he is also a movie producer. He has produced movies like Kiyaan's Shamitabh, English Vinglish and is on the board of directors of many companies. He donated a good percentage of his educated board money to charity. So friends, tell us how you liked this video and please subscribe to our channel.
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