Rakesh Jhunjhunwala, the ace investor of India, dies at 62

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Rakesh Jhunjhunwala, the ace investor of India, dies at 62

Stock markets are always right. Rakesh Jhunjhunwala, the ace investor of India once said, "Never time the market." The quote captures his investing style. He is known for picking value stocks and staying put for a long time to make the most of his investments.

His popularity in the investors community can be gauged by the titles he was given, ranging from Indian Warren Buffett to Big Bull, while the veteran investor Rakesh Jhunjhunwala passed away in Mumbai at 62 on Sunday morning at 6.45 am. His investing style and astuteness in the stock market continue forever, as well as his investment style and astuteness in the stock market.

During his time in the stock market, Rakesh Jhunjhunwala invested in a number of multi-bagger stocks, which had a net worth of more than $5.5 billion. Consider this: The ace investor held 4.4 crore shares of Titan Company Limited, which he purchased in 2002 -- 03 at an average price of Rs 3. It is currently trading at a price of Rs 2,471. Rakesh Jhunjhuwala, known for his value investing, bought 40 lakh equity shares of Crisil, along with his wife Rekha Jhunjhunwala, which has a 5.5 per cent stake in the company. He has a long-term bet that includes companies like Agro Tech Foods, Escorts, Autoline Industries, Bilcare and Geojit Financial Services, where he held a stake for 10 years and more. He had a stake in 47 companies at the end of June quarter Q 1 FY 2022-23 An eternal optimist about the growth story of India, Rakesh Jhunjhunwala was always extremely bullish about India's growing economy. His recent investments reflect the thought process. After Covid 19 the airline industry was going through a rough period, Jhunjhunwala founded India's newest airline Akasa Air, which opened services in the Bengaluru-Kochi -- Bengaluru sector of Cochin International Airport Limited CIAL on August 12. He had teamed up with ex-Jet Airways CEO Vinod Dube and former IndiGo head Aditya Ghosh to set up the airline.

He made an investment in Star Health at an early stage. According to the RHP filed by the company, Jhunjhunwala held 14.98 per cent or 82,882, 958 equity shares by buying shares in a staggered manner between March 2019 and November 2021 at an average of Rs 155.28 a share. His investment in the company was about 1,287 crore. He currently holds 10 crore shares in Star Health, which is currently trading at Rs 696. Star Health IPO is offered at a price band of Rs 870 to Rs 900 per share.

His fascination with numbers resulted in his astuteness in the stock market. He graduated as a chartered accountant from Sydenham College in 1985 and entered the stock market with just 5,000 in 1985. The ace investor will be remembered forever for his best long-term picks in the market.