Rakesh Jhunjhunwala was an Indian stock market trader and a millionaire whose trades were broadly examined, unfortunately, passed away due to cardiac arrest. His sudden demise is drawing everyone’s attention to equities he owned which were roughly worth around $4 billion.
On Sunday, August 14th, the man called the “India’s Warren Buffett” reportedly suffered a heart arrest and passed away at the age of 62. The self-made trader became a member of the board of several Indian businesses and made investments in both emerging startups and well-established businesses.
Rakesh Jhunjhunwala was one of the most influential market voices in the third-largest economy in Asia. He also has a very devoted following amidst the growing population of individual investors in the country. He had a cult-like following as a result of his successful investment. And occasionally, news of his trades caused stocks to surge above their daily limitations. Rakesh Jhunjhunwala was also known by his nickname “Big Bull” and he was a constant supporter of the Indian growth narrative.
As per the sources, the seasoned investor and his spouse Rekha Jhunjhunwala invested over one-third of their assets in the jewellery store Titan Co. since it was one of their biggest and most successful ventures.
Going according to the market value, their other main stock holdings include Star Health & Allied Insurance Co., Tata Motors Ltd., and Metro Brands Ltd. Over 10 per cent of the big bull’s stock holdings were in the Star Health, the videogame developer Nazara Technologies Ltd, and the IT company Aptech Ltd.
When the market reopened on Tuesday following a holiday, shares of the businesses in which Rakesh Jhunjhunwala invested were traded in a range of directions. While Aptech dropped more than 5%, Titan increased by roughly 1% and so did Star Health by as much as 2.5%.
The brand and marketing community feels that he was one of the most ardent champions of brand India. Even though his passing may not have had a noticeable effect on the perceptions of the companies, he was affiliated with investments or board membership.
see also – Rakesh Jhunjhunwala’s House
Brand India was the first product in which he had faith. Firstly, he was highly interested and bullish in the brand India since he thought that our nation had a lot of potential. Second, he had a tremendous belief in the reputation of the corporations they represented, and among them was Tata. Thirdly, he valued the Titan brand above all others and adhered to its principles. Titan, which makes watches and also sells Tanishq jewellery.
The marketing and advertising industry considers the late Rakesh Jhunjhunwala to have left a very significant impact on the trading sector. His legacy will be investments, not just in the market but also in marketing.
Although the market will be affected by his demise and he’ll be missed, he will always be remembered for motivating many young investors, not just in the financial markets as well as in brands and marketing. However, in the case of those companies where he made significant investments, the effect will be seen. He was an individual who regularly made investments in various firms even if they were small, and not just in big institutions.
Some members of the fraternity think that his death will only have an effect on the community of traders and not on consumers in general.
Even Prime Minister Narendra Modi appreciated Rakesh Jhunjhunwala’s influence on the investment world. According to Modi’s tweet on Sunday, the “indomitable” investor made “an everlasting contribution to the finance industry.”
