'He was an investor in human beings': A friend remembers Rakesh Jhunjhunwala

Bhaskar Bhat, Former MD of Titan Company was a longtime friend of the late Big Bull.

Moneycontrol revisits the investing philosophy of late Rakesh Jhunjhunwala on his first death anniversary

Ace investor Rakesh Jhunjhunwala may have been known for his multibagger stock bets, but he was equally an investor in human beings, said Bhaskar Bhat, Former MD of Titan Company and a longtime friend of the late Big Bull.

Reminiscing about his association with the legendary investor in an interview on CNBC-TV18, Bhat said: “Everybody knows him as an investor in companies. I felt he was an investor in human beings”.

Bhat said that Jhunjhunwala had an uncanny ability to assess a person quickly.

Jhunjhunwala felt that he should invest in Titan when he first came to the company’s office and saw the people, said Bhat.

“At that time, watch was the bigger business, and he had great faith in the watch business, not the jewellery business, which was in its nascency. So it was a combination of what he perhaps felt about the place and what he saw in the people. He was an intuitive investor, and he was also invested in people rather than just the company” added Bhat.

Rakesh Jhunjhunwala’s bet on Titan is a huge part of his legendary investing career. He first invested in Titan in 2003 when the stock was trading at Rs 30. At the time of his death, he held a 5 percent stake in the company, worth Rs 11,000 crore.