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Ace investor Rakesh Jhunjhunwala, known as the 'Big Bull' of Dalal Street, died on August 14 after suffering from a cardiac arrest. The billionaire investor is survived by his wife Rekha and three children.
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The mortal remains of Rakesh Jhunjhunwala will be cremated shortly at the crematorium in Mumbai. The late ace investor's family members and friends are paying their final tributes to him. The funeral was earlier to be held at 5:30 pm, but it was delayed as the arrival of Jhunjhunwala's brother from Dubai was awaited.
"Rakesh Jhunjhunwala, a true nationalist , lived a life committed to the India story. His unwavering belief in Indian entrepreneurs and enterprise will certainly outlive him. True to his nature and unerring eye for detail, he had planned and meticulously executed a smooth transition to sustain and enhance his legacy. On this day, as India enters her 76th year of independence, we pledge ourselves to fulfill his dreams and vision. We are confident that our investee companies will continue to prosper and conquer new heights," Rare Enterprises said in a statement.
According to Mark Matthews, managing director at Julius Bear, Jhunjhunwala proved that one can make a "lot of money" in Indian market by picking good companies. "He had a way of staying through, as most people talk about Titan, but that is not the only one."
"Jhunjhunwala's passion for the market too is something we have to acknowledge. He once said market and cooking both need to be taught," Matthews added. Read full report
'Big Bull' Rakesh Jhunjhunwala, India's answer to Warren Buffett, held the young nation in thrall as he aggressively invested in her future growth and bubbling aspirations.Jhunjhunwala, 62, died on Saturdayafter a prolonged illness. He leaves behind grieving millions who loved his brash, devil-may-care attitude at a time when India celebrates her 75th Independence Day. Read more
-Ace investor Rakesh Jhunjhunwala’s mortal remains will be taken to a crematorium in Mumbai at 10:30 pm. His last rites will be performed in the night after his brother arrives from Dubai.
- "Rakesh Jhunjhunwala was one of a kind in many ways. Always a cheerleader of India, our economy, and markets, Rakesh Jhunjhunwala was a true visionary."
- "An unparalleled optimist and a man of discipline in investments, he always came out a winner be it a bull market or bear market! For Geojit, he was a source of inspiration and guidance for me personally too."
- "Since 2004, he was a member of our board for 12 years and continued as our shareholder.It is indeed sad that fate took him away so early. Indian industry and the stock markets will miss his dynamic leadership.It is a huge loss for India and Rakesh Jhunjhunwala will be greatly missed for me too, it is a void that cannot be filled."
