Rakesh Jhunjhunwala on Tata Group: 'The house of Tatas is blessed by God'

Rakesh Jhunjhunwala, known as India’s Warren Buffett, had a keen interest in stocks since college.

Tata Group has been a very large part of Rakesh Jhunjhunwala's portfolio. The billionaire investor had earlier said that the market is still underestimating the profitability and returns the group would deliver and predicted Tata Motors to be the surprise outperformer in the group.

The 62-year-old died early on Sunday morning because of kidney ailment. He was brought dead at Breach Candy hospital in Mumbai at 6:45 am on Sunday, according to TV channel CNN IBN.

Speaking to ET Now last year, Rakesh Jhunjhunwala said that it was a coincidence that the Tata Group forms a significant part of his portfolio. “It is a coincidence. I buy shares of companies… But, ever since Mr Chandra (N Chandrasekaran, chairperson) took over and I understood him and what he’s trying to do, I got extremely bullish. And I think… the first stage is always uncertain. Now that we’ve passed that stage, we want to catch speed,” the billionaire investor had said.

“I think, the house of Tatas is blessed by God,” he added.

Read more: Days before Rakesh Jhunjhunwala’s death, interview had sparked concerns about his health on social media

One business which had caught Jhunjhunwala’s eye for the rapid progress it has been making was Tata Motors. According to him, it is likely to be the surprise outperformer in the group.

In this year's April-June quarter, however, Rakesh Jhunjhunwala sold 30 lakh shares Tata Motors when its share prices fell 4.85 per cent.

Read more: Rakesh Jhunjhunwala on death, weather and market: 'Nobody can predict it'