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Are you interested in trading or willing to take up trading as a profession? Then this article can be a real inspiration for many aspiring traders of the country. Getting into the stock market and start trading is easy but the main challenge is to make money from stocks. This legendary investor is often referred to as Warren Buffet of India.
This is the story of Rakesh Jhunjhunwala. Rakesh Jhunjhunwala was born in a middle-class family on 5 th July His father was an officer in the Income Tax Department and took immense interest in stocks. One day Rakesh asked his father why the prices of the stocks fluctuate.
Young Rakesh found it very interesting and got fascinated by stocks. This was the first lesson on the stock market which Rakesh Jhunjhunwala received. He decided to take up trading as a profession and told his father about his wish. Rakesh then took up Chartered Accountancy and completed his CA in After completing CA, Rakesh started his career as a trading professional in The BSE Sensex was at then.
Rakesh saw first big success in the following year after he bought 5, shares of Tata Tea at a price of Rs. After 3 months of the purchase, he sold all those shares when the price touched Rs. After , the stock market went into a big depression which lasted till During that period Rakesh Jhunjhunwala earned around Rs. The stock was available abysmally cheap around Rs. There was a projection of a very good growth in profitability in the next year, but nobody seemed to believe it.
Rakesh saw these facts and wanted to invest, but he was short of enough capital. To make up for the short capital, he purchased stocks of Tata Power. He sold off all the stocks of Tata Power when it was trading between Rs. He was able to make around Rs. Rakesh then purchased 4 lakhs shares of Sesa Goa worth Rs.
Rakesh sold about The prices then went further up and he sold the remaining shares. So I had to earn the capital to invest. And I got the capital by doing future trading. Rakesh Jhunjhunwala is a strong believer in long-term investments. A closer analysis of his portfolio at different times reveals that he has received higher returns from the stocks he held for a considerable longer period of time.
Found this story inspiring? Then do share the inspiration by sharing this post. This man turned his 5, INR into 6, Crore The caption says he started with IRs. Further, in his interview he had stated no gift from Father or Father-in-law. How did he get IRs. Trading 5, shares of Tata Tea was not his first trading experience.
Rather, it was the first major success of Rakesh Jhunjhunwala. Please read the article once again to clear your confusion. Radhakisan Damani - The man with near perfect investing decisions who also mentored Rakesh Jhunjhunwala conflatingVisions.
Investment strategies of Rakesh Jhunjhunwala conflatingVisions. Make Money in Stock Market - These tips can help you! Leave a Reply Cancel reply. Sorry, your blog cannot share posts by email.