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Rakesh Jhunjhunwala Death Anniversary: It has been two years since the late investor Rakesh Jhunjhunwala said goodbye to the world. But people still follow his investment tips. Rakesh Jhunjhunwala got the highest return in Titan shares. He earned more than 80 times profit on his investment in this stock. Jhunjhunwala's friend Ramesh Damani told in a media report how Jhunjhunwala first bought shares in Titan and it became the company giving the highest returns in his life.
How did Jhunjhunwala buy Titan shares
Damani told that in 2003 a broker called Jhunjhunwala and said that another investor wants to sell Titan shares and he has 1 million shares. If he buys 10 lakh shares then the price is Rs 40 and if he buys 30 lakh shares then the price is Rs 38 and if he buys 50 lakh shares then the price is Rs 36.
Titan stock bought at Rs 40
Jhunjhunwala felt that Titan was a great brand with a market cap of Rs 300 crore at a price of Rs 40. That's why he bought the smallest lot. After this he started following the company. Damani said that over the next few years, Jhunjhunwala continued to buy shares in Titan and at one point his stake in the company increased to 5 percent.
Damani said that people believe that he bought Titan shares after a lot of study or after getting some insider information, but this is not true. He bought Titan shares because the broker had a lot and he came to him first.
Investing in the market since 1985
Rakesh Jhunjhunwala started investing in the stock market in 1985 with Rs 5000. His estimated net worth was $5.8 billion at the time of his death in August 2022. In a program, Jhunjhunwala told investors about the stock market that there is no king of the market, who understands, who has gone to jail.
He further said that no one can predict or forecast about weather, death, market and women. Just like the stock market, investors also need to be patient.
