Rakesh Jhunjhunwala became rich initially by Trading and not Investing.
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It is called genius because Jhunjhunwala made Rs 20 lakh to Rs 15,000 crore in 30 years through the stock market. And that Rs 20 lakh was also borrowed money at 20% interest.
Thread on the same ๐งต
It is called genius because Jhunjhunwala made Rs 20 lakh to Rs 15,000 crore in 30 years through the stock market. And that Rs 20 lakh was also borrowed money at 20% interest.
Jhunjhunwala used to trade standing outside the Bombay Stock Exchange with Rs 20 lakh in his trading account. In three years, 20 lakhs had become one crore rupees. But there was no significant profit for the next 2 years.
During the historic budget of 1991, Jhunjhunwala had invested his entire 1 crore rupees in the shares of many small and big companies. Taking 100% margin on that one crore rupees, invested another one crore before the budget.
With the advent of the budget, there was a tremendous boom in the stock market. And Harshad Mehta was also investing money in the market with full enthusiasm. Harshad Mehta was the hero of the traders at that time.
1991, within a year, Jhunjhunwala earned Rs 30 crore by buying shares of companies.
In the 90s, there was not enough volume in the Indian stock market to trade with an amount like 30 crores. So Jhunjhunwala focused on investing and invested his 30 crores in many small companies.
In the 90s, there was not enough volume in the Indian stock market to trade with an amount like 30 crores. So Jhunjhunwala focused on investing and invested his 30 crores in many small companies.
Out of which Lupine and Titan, these 2 companies earned Jhunjhunwala 5000 crores. Even today the shares of these companies are with Jhunjhunwala
Apart from these, Jhunjhunwala made trading positions in many companies and in a few months, or in 1-2 years, double-triple his money
Apart from these, Jhunjhunwala made trading positions in many companies and in a few months, or in 1-2 years, double-triple his money
Combining the perfect blend of trading and investing, Jhunjhunwala is one of the richest men in India today.
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