According to hospital sources as quoted by news agency ANI, Jhunjhunwala was not keeping well for the past few days and breathed his last today in Breach Candy Hospital in Mumbai. He was born on July 5, 1960 and grew up in Mumbai.
The Ace stock market investor also ran a privately-owned stock trading firm called RARE Enterprises. He was always bullish about India's stock market and whatever stocks he purchased mostly turned into a multibagger.
Take a look at 10 golden quotes by Rakesh Jhunjhunwala,
1) "Respect the market. Have an open mind. Know what to stake. Know when to take a loss. Be responsible."
2) "Hastily taken decisions always result in heavy losses. Take your own time before putting money in any stock."
3) "Anticipate trend and benefit from it. Traders should go against human nature."
4) “Never invest at unreasonable valuations. Never run for companies which are in limelight."
5) “Trading always keeps you on your feet, it keeps you alert. That's one of the reasons why I like to trade."
6) “Emotional investment is a sure way to make loss in stock markets."
7) "You cannot make profits in the stock market unless you have the ability to bear losses."
8) "Buy when others sell and sell when others buy – the stock market mantra."
9) “Invest in companies which have strong management and competitive management."
10) “When opportunities come, they can come through technology, marketing, brands, value protections, capital, etc. You need to be able to spot those."
Prime Minister Narendra Modi condoled the death of Rakesh Jhunjhunwala on his social media handle. “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti," PM Modi tweeted.
BJP leader Baijayant Jay Panda in a tweet said: “Deeply pained to learn about the sad demise of the Big Bull of the Dalal Street Shri Rakesh Jhunjhunwala Ji. He was often called the Indian Warren Buffett as he had mastered the art of investing. Recently he launched the Akasa air. Heartfelt condolences to his family."
