Ace investor Rakesh Jhunjhunwala passed away this morning. While Rakesh Jhunjhunwala was famous for picking up good quality stocks, one of the stocks that stood out and always will is his investment in the Tata Group owned, Titan Industries.
According to reports his value in Titan is now around the Rs 9000 crores mark, at about a 5% odd stake. Of course, we do not know what was the amount he invested in Titan, but, it could be a fraction of the current value. Some say he bought Titan at a low price of Rs 3 and today in 20 years, the stock has grown several times over. Titan shares last changed hand at Rs 2471.
Over the four decades that he invested, no stock made money for him as much as Titan Industries.
The ace investor also hold stocks of Star Health, where is a major shareholder and also owns stocks of Tata Motors, Crisil and Fortis. Often asked what prompted him to invest in Titan, he often cited gut feeling and a growing market for the company.
Starting off his journey in stock markets while still in college with a capital of just Rs 5,000, he recently teamed up with ex-Jet Airways CEO Vinay Dube and former IndiGo head Aditya Ghosh to launch Akasa Air -- India's newest budget carrier. The airline began commercial operations this month with a maiden flight from Mumbai to Ahmedabad. An investor with a Midas touch, he was the 48th richest man in the country. A chartered accountant by education, he chose Dalal Street instead of auditing accounts. In 1985, Jhunjhunwala invested Rs 5,000 as capital. By September 2018, that capital had inflated to Rs 11,000 crore.