Success Story Of Rakesh Jhunjhunwala King of Stock Market
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| Credit:Thise image Soure from google |
Hello everyone whenever we start with something new or are passionate about some work then inspiring stories of people who have already established themselves in that particular field is always helpful similarly if you're interested in the stock market then the story of this man often called the warren buffet of india will definitely inspire you let us see how it all started for mr rakesh chun chanwala the king of bull market born on 5th july 1960 rakesh chandranwala spent his childhood in mumbai by profession his father was an income tax officer who used to invest actively in the stock market since childhood rakesh was aware of the term stock market while growing up he used to hear his father discussing the shares in market with his friends these constant discussions raised fascinations and questions in young rakesh's mind he started to ask all his queries from his father like what is the reason behind fluctuation of stock prices on a daily basis his father used to address his questions explaining all the things and details with proper reason this way rakesh chun junwala had basic knowledge about the stock market while he was growing up after school he went on to pursue a degree in chartered accountancy from sudan college in mumbai and he graduated in 1985.
Once he did his graduation he had a clear goal he confessed his desire to make a career in the stock market to his father like any supportive parent the father agreed and supported his decision but he also imparted some life lessons to rakesh which helped him in his later life too some words of wisdom discussed by his father were always try to do something which gives you joy in life do not ever seek monetary help from me or my friends and finally he encouraged rakesh to be fearless well rakesh chandranwala started his journey in the stock market with these lessons when he decided to enter into the stock market he only had five thousand rupees during that time only his brother was practicing ca he happened to deal with a client who was looking to utilize her capital and earn a good return with all the money she had in those days the bank deposits provided a 10 percent return only well because rakesh had knowledge about the stock market he convinced the lady that he would help her get a good return of 18 per annum that client agreed and gave him 2.5 lakh rupees similarly he took another 5 lakhs from someone else and finally pulled in his initial capital when he started his career in the share market he used his expertise and went to earn profit of 8 to 10 lakh rupees with the help of trading well everyone witnesses some or other kind of ups and downs and a similar thing happened with rakesh chun chunwala a few years after seeing initial success in the share market the next two three years were difficult for him then in 1988 he bought 2.5 lakh shares of cesagoa at a rate of 28 rupees and another 2.5 lakh shares at a rate of 35 rupees within the span of six months the share price of cesagoa posted a hike and it touched a rate of 65 rupees per share then came the turning point of rakesh children walla's life the 1989 union budget it was to be presented by the then finance minister mr madhu dhanvati for those who do not know the news that floats in the world majorly affects the prices of shares in india the time around which the budget is to be presented the stock market usually gains momentum as it's a big event many investors believe that madhu dhanvati's union budget of 1989 would majorly be focused on the social aspect of the nation instead of the business aspect hence most of them were fearful and bearish but rakesh chun junwala had opposite views he thought that the then prime minister of india mr v p singh who understood the importance of business would not come up with a budget that would affect the business sector so he had good hopes with the budget well that is what happened after the union budget of 1989 was presented rakesh Jhunjhun wala's estimations were proved right
It benefited him on a significant scale the time during which the budget was declared his net worth stood around two crores whereas within just five months after the union budget of 1989 was presented his net worth went between 40 to 50 crores it was after this he established an asset management firm by the name rare enterprises mr zhonjinwala manages as one portfolio through this firm the name rare is a combination of initials of rakesh and his wife rakesh jhanjunwala he is very patient when it comes to his investments and these two stories prove it it goes like this we all are well aware of the brand name and credibility of titan company back in 2002 2003 rakesh bought shares of the same at an average price of 4.5 rupees per share in the coming time the stock price of titan first increased to 80 rupees then witnessed a downfall to 30 rupees and when this major decrease in the share price of titan company took place rakesha's portfolio also suffered a loss of approximately 300 crores but he did not sell his shares when the price dropped as he was positive about the growth of titan company and as per the data from 2019 the value of his holding in titan company limited lies around 6693.7 crores during the recession of 2008 he suffered a loss of hundreds of crores but he never lost hope and continued with his investments as a result he soon recovered all the losses his portfolios incurred after the 2008 recession these two incidents are the best examples which validate the fact that one needs patience if he or she is investing in the stock market not only shares of titan company but there are a number of shares that mr rakesh has held for more than 15 to 20 years now he always makes a point to learn something from his mistakes rather than regretting it he often quotes that one can learn investment through experience and experience comes from the mistakes you make as per him market is supreme hence it can never be right or wrong right or wrong is an investor or you hence if you make any mistake it's better to accept learn from it and then move forward if you are in a state of denial for the mistakes you make then you do not leave any scope for yourself to learn mr rakesh chun junwala is known for his long-term investments but he's an active trader as well in fact when he first started out in his career it was trading that helped him to have a strong capital as a backer he thinks trading helps him to be alert and vigilant rakesh chun chanwala has always been optimistic with the growth of india and its economy he always keeps his emotions apart from investing and never gets attached with any of the shares he invests in he simply says that he buys stocks to sell them and suggests the same to others rakesh chunwala entered the world of the stock market to pool a huge wealth or to become famous he took it as a profession as he's passionate about investing according to him investment is the most exciting as well as interesting profession in the world according to forbes as of january 2020 he is the 48th richest man in india with a net worth of approximately 2.2 billion dollars recently on july 5th he turned 16 and 2020 marks 35 years of his presence on dalal street too some of his investment that has gained excellent returns include praj industries with a return of 700 times between 2001 and 2007. apollo hospitals delivered a return of hundred plus times between 1998 to 2015. bata delivered a return of over 90 times between 1996 to 2019 so on and so forth some of the stocks that hold significant weightage in rakesh chinchinwalla's portfolio as per 2019 include titan company limited crystal limited escorts limited lupine limited federal bank limited etc with all the hype that surrounds the economic crisis due to covet 19 and stock markets all around the world posting a huge decline rakesh chandranwala believes that india is at the beginning of the mother of all bulrams he further said in an interview that the present situation is similar to a shake that the market gives you before any bull run we hope that this case study on rakesh chun chanwala and his life would prove helpful for all the budding investors out there !