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How did Rakesh Jhunjhunwala make so much money?
He borrowed money from his brother’s clients and promised to return the capital with higher returns compared with bank fixed deposits. He earned his first big profit in 1986 when he bought 5,000 shares of Tata Tea at Rs 43 and the stock rose to Rs 143 within three months. He earned over three-times profit.
How did Rakesh Jhunjhunwala started investing?
Investor with a Midas touch, Rakesh Jhunjhunwala is often referred to as India’s Warren Buffett. Son of an income tax officer, Jhunjhunwala started dabbling in stocks while still in college. He began investing with $100 in 1985 when the Bombay Stock Exchange Index was at 150; it now trades over 38,000.
What was Rakesh Jhunjhunwala’s first big profit?
Rakesh Jhunjhunwala’s first big profit was Rs 0.5 million in 1986. He bought 5,000 shares of Tata Tea at Rs 43 and within 3 months it was trading at Rs 143. He made a profit of over 3 times by selling the stocks of Tata tea. In the next few years. Rakesh Jhunjhunwala made a number of good profits from stocks.
How much of Titan Company Limited does Rakesh Jhunjhunwala own?
In 2002-03, Rakesh Jhunjhunwala bought ‘Titan Company Limited’ at an average price of Rs 3 and currently it is trading at a price of Rs 817. He is holding over 7.5 crore shares of titan company. He has an ‘overall’ holding of 8.45\% in the company.
How much did Rakesh Jhunjhunwala earn from Sesa Goa?
In the next few years. Rakesh Jhunjhunwala made a number of good profits from stocks. Between 1986-89, he earned Rs 20-25 lakhs. His next big investment was Sesa Goa, which he initially bought at Rs 28 and then increased his investment at Rs 35.
How did Jhunjhunwala start investing in the stock market?
He would listen to his father talks about stocks and slowly, he started developing an interest. Jhunjhunwala is also a certified completed Chartered Accountant (CA) and completed his education in 1985. After completing his CA, he wanted to enter the stock market. However, his father did not help him financially.