Rakesh Jhunjhunwala

From Wikipedia, the free encyclopedia - View original article

Rakesh Jhunjhunwala
Rj in office.jpg
Born(1960-07-05) 5 July 1960 (age 53)
Mumbai, India
EducationChartered accountant
Alma materBombay University
OccupationOwner of Rare Enterprises, Investor & trader
Net worthUSD 1.25 billion (2011)[1]
Spouse(s)Rekha Jhunjunwala
Children3
 
Jump to: navigation, search
Rakesh Jhunjhunwala
Rj in office.jpg
Born(1960-07-05) 5 July 1960 (age 53)
Mumbai, India
EducationChartered accountant
Alma materBombay University
OccupationOwner of Rare Enterprises, Investor & trader
Net worthUSD 1.25 billion (2011)[1]
Spouse(s)Rekha Jhunjunwala
Children3

Rakesh Jhunjhunwala (born 5 July 1960) is an Indian investor and trader. He is a qualified Chartered accountant. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises.[2][3] Jhunjhunwala was described by India Today magazine[which?] as the "pin-up boy of the current bull run"[4] and by Economic Times[which?] as "Pied Piper of Indian bourses".[5]

Career[edit]

Jhunjhunwala is the Chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. and sits on the Board of Directors of various Indian companies such as Prime Focus Limited, Geojit BNP Paribas Financial Services Limited, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited and Tops Security Limited. As of late 2012 his portfolio included A2Z Maintenance, Titan Industries - 7.5% stake, CRISIL -7.85% stake, [Geometric] - 19.14% stake, [Lupin Ltd.] - 1.87% stake and Karur Vysya Bank.

Jhunjhunwala's stocks fell by up to 30% in December 2011.[6] He recovered his losses in February 2012.[7] These ups and downs forced Rakesh to reduce his vulnerability by trimming his portfolio to one-third.[8] His attempts to divest his Aptech stake had no takers.[9] In May 2012 he increased his stake in Aptech by 2.24% now holds 12.7%

Jhunjhunwala invested $ 4.6 Million (INR 26 crore) in A2Z Maintenance[10] increasing his stake in the company by 3.57%, taking his stake in the company to 23.2 per cent.

In popular culture[edit]

Like the Fake Steve blog, there is a popular parody blog called The Secret Journal of Rakesh Jhunjhunwala that humorously parodies the Investor's life.

On June 7, 2012 the authors were revealed by The Economic Times to be two people . For the first year, Forbes columnist and American Mark Fidelman[11] and for the remaining years Aditya Magal from India.[12] Jhunjhunwala was reported to have had a meeting with Magal in his Mumbai office.

Investment philosophy[edit]

He admits to having been a bear in the Harshad Mehta days and believes that investors should be like chameleons. He has said that the markets are temples of capitalism and believes that they are the ultimate arbiters.[13]

References[edit]

  1. ^ Rakesh Jhunjhunwala topic page. Forbes.com. Retrieved October 2012.
  2. ^ "RAKESH JHUNJHUNWALA BIO". Retrieved 9 November 2012. 
  3. ^ "Mr. Rakesh Jhunjhunwala - Chairman". Retrieved 9 November 2012. 
  4. ^ http://archives.digitaltoday.in/indiatoday/20070326/cover3.html
  5. ^ "The journey of Rakesh Jhunjhunwala". The Times Of India. 23 October 2009. 
  6. ^ Nihar, Gokhale (Dec 17, 2011). "ET Bureau". The Economic Times. Retrieved 28 April 2012. 
  7. ^ "Rakesh Jhunjhunwala Slaughters The Bears". Rakesh Jhunjhunwala Slaughters The Bears. Rakesh-jhunjhunwala.in. Retrieved 28 April 2012. 
  8. ^ Modak, Samie (Apr 27, 2012). "Rakesh Jhunjhunwala to trim companies in his portfolio". Business Standard. Retrieved 28 April 2012. 
  9. ^ John, Satish (Apr 5, 2012). "No takers for Rakesh Jhunjhunwala's stake in Aptech". The Economic Times. Retrieved 28 April 2012. 
  10. ^ "Rakesh Jhunjhunwala buys shares worth Rs 26 crore in A2Z Maintenance and Engineering Services". Economic Times. 22 May 2012. Retrieved 5 June 2012. 
  11. ^ Fidelman, Mark. "Mark Fidelman -Socialized and Mobilized - Forbes". Blogs.forbes.com one by one. Retrieved 2012-11-17. 
  12. ^ "How parody blogger Aditya Magal impressed Rakesh Jhunjhunwala". The Times Of India. 7 June 2012. 
  13. ^ "World's Famous Investors". Retrieved 9 November 2012. 

External links[edit]