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the ace investor rakesh junior walla died this morning at a mumbai hospital at the age of 62. mr junjan bala was rushed to the bridge candy hospital at about 6 45 a.m where he was declared dead on arrival his last rights will have taken place in mumbai the veteran trader come investor also known as the big bull of dilal street was reported to have a net worth of around five and a half billion dollars according to forbes he was the promoter of india's newest airline akasa which took to the skies last week well joining us now to talk a little bit about rakesh hindranwala his incredible story ajay bhaga you know mr bhagat to think about a man who started off with 5000 rupees which he we used on the stock markets to end up with 5.5 billion dollars in personal wealth it's not just a miracle it's obviously of a man who was a genius at the markets he figured out the stock markets in a way which perhaps nobody else in india did absolutely vishnu and very sad day for indian markets and you know if you look at the scale of the achievement as you mentioned 5000 rupees going to 46 000 the road rupees and you look at the journey of the indian index from that time in 1985 the bse sensex was at 150 and today it is at about 59 000.
that's the kind of wealth that was generated in india that's how our chidi has gone up our market cap has risen and rakes theory is the story of the indian dream the possibilities in india you know we have gone through if you look at 1985 to now we have had 1991 rajeev gandhi assassination 84 we were coming off indira gandhi assassination cargill a nuclear uh run to sanctions on india all kinds of inflation all kinds of global issues through that the indian markets did well and a super investor like rakesh dunder outperformed the markets by a substantial margin i think that points to the genius of the man and also the opportunity of it you know you're talking about opportunity he decided to take opportunity in one of the toughest sectors in the indian economy the aviation sector today air india uh controlled his passing jet controlled his passing others controlled his passing as well because despite the incredible competition in that space and he has a very decent offering in that airline akasa of his he was seen as a rail maverick somebody who had the guts and the courage to invest in sectors even if it was difficult it doesn't get tougher than aviation in india absolutely and you know aviation normally if you see the value investors are the investors who are very price sensitive they stay away from a capital intensive very high cost very high risk industry like aviation normally if you see across the world it is very difficult to make money in aviation right but the companies that have succeeded are the ones who are well capitalized which means they bring in enough in terms of equity they keep their debt levels slow then you have a model of making money in aviation and that was the model uh when rakeshdi mentioned it also uh at the launch he said i have analyzed it and there is an opportunity in the sheer numbers growth in india if you look at the number of airports they have doubled over the last few years right clearly there is a demand at a price point if you can fulfill that demand in a profitable manner which very few companies have been able sure uh you know mr buga it's just it's just an incredible story and uh it's such a loss for uh you know i mean for for the markets for the uh a visionary on on the on the economy in our country and indeed for his airline as well i'm out of time i'd like to thank you very much for just sharing your thoughts on this absolute maverick rakesh jun jinwala passed away earlier this morning thank you
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