PremiumListen to this article |
Stock investor Rakesh Jhunjhunwala, dubbed "India's Warren Buffett" with an estimated net worth of $6 billion, died early on Sunday at age 62. A chartered accountant by profession from the desert state of Rajasthan, Jhunjhunwala started dabbling in stocks while in college and went on to manage a stock trading firm, RARE Enterprises.
"Extremely saddened by the untimely passing away of the most legendary investor that India has had. Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views. We will miss him. India will miss him but we will never forget him. RIP," Gautam Adani tweeted.
Veteran banker Deepak Parekh said Jhunjhunwala was a modern day legend with the optimism that gave a fillip to the Indian market trajectory.
"He was a strong proponent of Indian enterprise and the ensuing uptick of the India growth story,"he said. "He believed in the caliber and innovativeness of the typical Indian entrepreneur, asserting always that India would not only meet all geopolitical challenges but emerge as the front runner of the world economy."
Banker Uday Kotak said: "Rakesh Jhunjhunwala: my school and college mate. One year my junior. Believed stock India was undervalued. He is right. Amazingly sharp in understanding financial markets. We spoke regularly, more so during Covid. Will miss you Rakesh!"
Mining baron Anil Agarwal said Jhunjhunwala will forever be known as the man who popularised public understanding of stock markets.
"Breaks my heart to know that a friend of mine, and more widely known as the big bull of our stock market, is no more...Rakesh Jhunjhunwala will forever be known as the man who popularised public understanding of stock markets. My prayers go out to his family & friends. Om Shanti," he tweeted.
