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He is earning 900 crores in just a few minutes but how did he do that, I will tell you that but before that let us know a little about this gentleman, in fact he is one of the biggest investors and traders of India who is also called Varun Buffett of India but in the initial days his father had told him not to ask me or any friend to invest money in the stock market and at that time he entered the world of stock market with just ₹5000000 and today his net worth has become 45000 crores but what did he do with just ₹5000000?
Born in a Marwari family in 1960, the father of future investor Rakesh Jhunjhunwala was not like Ambani or Tata Billa but was a commissioner of the Income Tax Department but his father was very interested in the stock market, he often used to talk with his friends about the ups and downs in the stock market and all these talks were heard by his 9 year old son Rakesh who one day made a very He asked the big question: why does the stock market fluctuate so much every day?
His father told him to study the stock market news in the newspaper every day and observe how the share prices fluctuate when news about a stock appears in the newspaper. This advice so impressed 9-year-old Rakesh that he decided to pursue a career in the stock market. At that time, he also advised Rakesh to complete his studies before entering the stock market completely, so that even if nothing happens in the stock market, he will still have a degree as security.
Perhaps this is what gave him the confidence to take risks. But to move ahead in the stock market, one needs not only confidence but also money, which his father flatly refused to give and also told him not to borrow money from anyone. So, Rakesh went to his elder brother, who was also a chartered accountant.
After telling his clients about the stock market, Rakesh met one of them. He took ₹2,500,000 from them and ₹500,000 from each, promising them double the return. With that money, Rakesh bought 5,000 shares of Tati for ₹43, which rose to ₹1.43 a share in just three months, netting Rakesh a full three-fold profit.
This is where Rakesh Jhunjhunwala began his journey to becoming a trader, without a godfather or technology. Rakesh Jhunjhunwala is known as India's Warren Buffett, for both were interested in the stock market at a young age and have earned such a huge name today without any help. However, this journey to fame wasn't easy.
After selling Tati shares, Jhunjhunwala made a substantial profit, but the first few years were quite difficult. However, he then applied a very important philosophy of his life: "Names are made with risk." He took some significant risks in his career, which ultimately led to his success. Today, he holds such a large reputation that he ranks 61st on the list of India's richest people.
The first of these major risks was the 1986 Sesa Goa stock buy. Sesa Goa, now known as Vedanta Limited, was incurring significant losses in 1986 due to low iron ore prices, which led to a significant drop in the value of Sesa Goa stocks. At a time when everyone was withdrawing their money from these stocks, Rakesh Jhunjhunwala bought 400,000 stocks ranging from ₹25 to ₹6.
These stocks were worth not just a few lakh rupees, but a full ₹10 crore, which was Rakesh Jhunjhunwala's entire accumulated capital at the time. This meant that if Sesa Goa had collapsed, it would have taken Jhunjhunwala with it. So, why did he take such a huge risk? Well, before investing in any stock, Jhunjhunwala would have gathered complete information about the company and the industry.
He knew that India Iron was a global leader. It is one of the leading importers of steel, and while the price of these resources may be low, their demand is unwavering. Therefore, trusting his gut, he took this significant risk, which paid off in such a way that Sesa Gua's shares rose from 20 to 25 points the following year.
Mountain Dew's biggest risk comes at number two. His 1989 risk actually occurred before the national budget announcement in 1989, as people believed that the VP Singh government's budget would be public-friendly rather than business-friendly. However, as always, Rakesh Jhunjhunwala, thinking differently from the rest of the world, invested all his money in the market.
Fate once again placed him on the same pedestal: just one foot forward and one foot back, straight into the abyss. As soon as the budget was announced, people realized that VP Bhaiya wasn't wrong; the budget was absolutely business-friendly. And then, people started crowding the market for stocks again.
Prices rose, and Jhunjhunwala's net worth increased by 20% in a matter of months. His risk-taking behavior supported him, but his instincts also supported him. He was fully confident that V.P. Singh's budget would be business- friendly, as V.P. Singh himself came from a business background and was also the former Minister of Commerce.
However, he took the biggest risk and made the biggest profit of his life during the Harshad Mehta scam of 1992. Supporting him at that time was none other than Jhunjhunwala's mentor, Radhakrishna Damani. He told Jhunjhunwala at that time that the market was rising too fast and there was definitely a scam, so he should short sell the stocks.
And then, Damani's words proved to be correct, and Jhunjhunwala earned the biggest profit of his life. But Rakesh Jhunjhunwala did not reach his current position by taking risks alone. He has another important philosophy: have Patience: Now, this philosophy sounds very common and clichéd. Everyone says, "Be patient, have patience." But in the world of the stock market, this advice is actually very important because people investing in the stock market often start withdrawing their money after seeing the market fall a little, but the market keeps fluctuating and a trader needs to know when to withdraw his money, and for that, patience is most important.
The only example of Jhunjhunwala ji's patience is his Titan stocks, which he bought for ₹10 in 2002 and 2003. In just a few years, the price of those stocks rose to ₹80 and then fell to ₹10 again. Now, in such a situation, normal investors think that before the stocks fall further, I will withdraw at least ₹2500000.
But Rakesh Jhunjhunwala did not do that at all because he saw that neither the company's Earnings have decreased and it is not going into loss. He knew that Titan will grow further and guess what, he did because the fundamentals of that company were strong and this is called fundamental analysis in the stock market that how that company is basically performing because its share price will be decided on the basis of its demand and supply in the market but its inherent value also is a value which depends on the growth of that company and the stock which Jhunjhunwala bought in 2002 for ₹, today the price of that stock has reached 82 due to which Jhunjhunwala earned 900 crores in just minutes, if my bet is right then who knows I might become the next big thing.
Now finally the last tip given by Jhunjhunwala ji which I want to give you is don't take tips I know you must have come confused but first listen to my whole thing brothers, the scene is something like this that Rakesh ji says that never invest in the stock market Do n't do it by listening to anyone but analyse the market yourself and if you are not able to analyse then invest in some mutual funds or if you consider any famous investor as your guru then first see in which stock he has invested and why and then if after analysis you like the stock then of course invest but according to Jhunjhunwala ji 99% of all the news are false, fake hype is created about which trader invested in which stock, so on and so fourth means what did Damani ji buy, what did I buy, first 99% of us are false, that is why before investing anything anywhere, check your sources and be careful.
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