Rakesh Jhunjhunwala’s death moves Dalal Street to Raisina Hill; PM Modi remembers ‘witty’ big bull

Rakesh Jhunjhunwala’s death moves Dalal Street to Raisina Hill; PM Modi remembers ‘witty’ big bull

Rakesh Jhunjhunwala passed away at the age of 62 in Mumbai on August 14. The big bull was one of the most sought-after voices on Dalal Street and among the most famous investors who made a killing with this investment in stocks such as Titan, and Tata Motors, among others. The death of the ace investor has drawn reactions from stock market investors, his fans, and even Prime Minister Narendra Modi who termed him as “full of life, witty and insightful”. The big bull is survived by his wife Rekha Jhunjhunwala and his three kids.

Prime Minister Narendra Modi took to Twitter to express his condolences. “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti,” the Prime Minister said in his tweet.

— Narendra Modi (@narendramodi) August 14, 2022

Home Minister Amit Shah, followed the Prime Minister and said that he was anguished to learn about the passing away of Rakesh Jhunjhunwala. “Anguished to learn about the passing away of Rakesh Jhunjhunwala Ji. His vast experience and understanding of the stock market have inspired countless investors. He will always be remembered for his bullish outlook. My deepest condolences to his family. Om Shanti Shanti,” the Union Minister said.

Anguished to learn about the passing away of Rakesh Jhunjhunwala Ji. His vast experience and understanding of the stock market have inspired countless investors. He will always be remembered for his bullish outlook. My deepest condolences to his family. Om Shanti Shanti.

— Amit Shah (@AmitShah) August 14, 2022

Also Read: Rakesh Jhunjhunwala passes away at 62; Ace investor was known as Warren Buffett of India

Union Finance Minister Nirmala Sitharaman too expressed her condolences, reflecting back on conversation she had with the big bull.

Shri Rakesh Jhunjhunwala is no more. Investor, bold risk taker, masterly understanding of the stock market, clear in communication- a leader in his own right. Fondly remember several conversations we’ve had. Had strong belief in India’s strength and capabilities. Condolences

— Nirmala Sitharaman (@nsitharaman) August 14, 2022

Uday Kotak, the CEO of Kotak Mahindra Bank was also seen remembering the ace investor on Twitter. “Rakesh Jhunjhunwala: my school and college mate. One year my junior. Believed stock India was undervalued. He is right. Amazingly sharp in understanding financial markets. We spoke regularly, more so during Covid. Will miss you Rakesh!,” he said on the social networking website.

India’s richest man Gautam Adani was also among those mourning the death of the billionaire investor. “Extremely saddened by the untimely passing away of the most legendary investor that India has had. Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views. We will miss him. India will miss him but we will never forget him. RIP,” Gautam Adani said.

Even marquee names from Dalal Street tweeted about their memories of the investor. Samir Arora, Founder & Fund Manager of Helios Capital reminisce his days with the big bull. “Very sad news. Rakesh was a great guy with a big big heart. I always fondly remember that he gave a farewell party when I was moving from Mumbai to Singapore and gave me a sculpture of Saraswathi which we still have,” he said on Twitter.

Another doyen of Dalal Street, Sanjiv Bhasin, Director of IIFL Securities wrote ‘#bigbull RIP”.

#bigbull RIP ????

— sanjiv (@sanjiv_bhasin) August 14, 2022

Independent investment advisor Sandip Sabharwal too remembered Rakesh Jhunjhunwala’s bullishness. “Sad to hear of #Rakeshjhunjhunwala passing away His bullishness was infectious. Will be missed. May his soul RIP,” Sabharwal said.

Sad to hear of #Rakeshjhunjhunwala passing awayHis bullishness was infectious. Will be missed.May his soul RIP

— sandip sabharwal (@sandipsabharwal) August 14, 2022

Reflecting back on Rakesh Jhunjhunwala’s conviction in India’s growth story, Securities Lawyer Sandeep Parekh said on Twitter that Rakesh Jhunjhunwala was a legend who could speak human. “His folksy speeches could convince non-believers in the India story. He left us just as we celebrate India’s Independence, success and growth. Om shanti,” he added. The lawyer even suggested that Dalal Street should be re-named to Rakesh Jhunjhunwala Marg. “‘Marg’ word is important – he showed so many of us the marg ahead.”