Remembering Rakesh Jhunjhunwala: What was Big Bull's view on India's stock market?

Ace investor Rakesh Jhunjhunwala passed away on August 14 (Sunday) morning following a prolonged illness. His passing away is an irreparable loss to the entire stock market players. The 62-year-old's popularity can be gauged from the titles he was bestowed with -- India's Warren Buffett; Big Bull and King of Bulls.

Jhunjhunwala was a person who always believed in India and the sheer potential of the country.

In an exclusive conversation with Zee Business Managing Editor Anil Singhvi, Madhu Kela of MK Ventures shared the Big Bull's views about India's stock market.

Jhunjhunwala, he said, remained passionately invested in India's growth story throughout his life. He said that Jhunjhunwala was well-versed with the knowledge of the market, adding that he knew the right time to place the bet.

Madhu said that he learned the philosophy of investment from Jhunjhunwala. "I met him in 1998. Till then, for me, the share market was just a source of income. I didn't know the 'W' of wealth. The concept of wealth creation came from him."

Remembering Jhunjhunwala, Anil Singhvi said that the journey from Rs 5,000 to Rs 50,000 crore is a dream. He added that Jhunjhunwala had once said that a "rally will come when you won't get shares".

To a question about what made Jhunjhunwala different from others, Madhu Kela said that the most fundamental thing that differentiated him from others was his fundamental belief in India. "If you have faith in India, you can stand here for a long time."

"His broad understanding of India was strong. He always said your patience may be tested but the conviction will be rewarded," Madhu Kela said, adding that Jhunjhunwala always wanted to inspire and encourage people.

A Chartered Accountant by qualification and profession, Jhunjhunwala founded Akasa Air. The maiden flight of India's newest airline took off on the Mumbai-Ahmedabad route exactly a week ago before his demise.

As of August 2022, Jhunjhunwala's estimated net worth was USD 5.8 billion, making him the 36th richest man in India and ranking 438 on the Forbes global list, according to a report in news agency IANS.