The loss of life of Indian billionaire Rakesh Jhunjhunwala places a highlight on the almost $4 billion price of shares held by the famed investor, whose trades had been carefully scrutinized.
The person often called India’s Warren Buffett died of a reported cardiac arrest Sunday on the age of 62. The self-made dealer invested in a large swathe of established companies and startups, and served on the boards of a number of Indian corporations.
Jhunjhunwala was among the many most influential market voices in Asia’s third-biggest financial system, with an intense following among the many nation’s rising horde of retail traders. The person often known as “Huge Bull” was a fierce backer of the India development story.
Jewelery retailer Titan Co. was one of many largest and most worthwhile investments for the veteran dealer and his spouse Rekha Jhunjhunwala, making up for greater than a 3rd of their portfolio, in line with knowledge compiled by Bloomberg.
Their different high holdings by market worth embrace Star Well being & Allied Insurance coverage Co., footwear maker Metro Manufacturers Ltd. and automaker Tata Motors Ltd. Jhunjhunwala held stakes of greater than 10% in Star Well being, IT agency Aptech Ltd. and videogame maker Nazara Applied sciences Ltd.
Even Prime Minister Narendra Modi acknowledged the influence Jhunjhunwala had on the investing neighborhood. The “indomitable” investor made “an indelible contribution to the monetary world,” Modi wrote in a tweet Sunday.
This story has been revealed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.
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Supply: Live Mint