Tata Group Chairman Emeritus Ratan Tata joined country’s leading industrialists and corporate honchos to pay tribute to ace stock investor Rakesh Jhunjhunwala, who passed away Sunday morning.
Tata remembered him as a “jovial personality” who had forsightedness and “acute understanding” of the stock exchanges of India.
“Rakesh Jhunjhunwala, who sadly passed away this morning, will always be remembered for his acute understanding of the stock exchanges of India. He will also be remembered for his jovial personality, his kindness, and his forsightedness. My heartfelt condolences go out to his family which has to share the burden of his great loss,” the veteran industrialist tweeted.
Jhunjhunwala was fond of Tata Group stocks. The billionaire investor had earlier said that the market is still underestimating the profitability and returns the group would deliver.
Earlier, Gautam Adani, Anil Agarwal and Deepak Parekh also joined several others to pay tributes to the legendary 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,” Adani Group chief Gautam Adani tweeted.
Parekh said Jhunjhunwala was a modern-day legend with the optimism that gave a fillip to the Indian market trajectory. “He was a strong proponent of Indian enterprise and the ensuing uptick of the India growth story,” he said. “He believed in the caliber and innovativeness of the typical Indian entrepreneur, asserting always that India would not only meet all geopolitical challenges but emerge as the front runner of the world economy.”
Mining baron Anil Agarwal said Jhunjhunwala will forever be known as the man who popularised public understanding of stock markets.
“Breaks my heart to know that a friend of mine, and more widely known as the big bull of our stock market, is no more…Rakesh Jhunjhunwala will forever be known as the man who popularised public understanding of stock markets. My prayers go out to his family & friends. Om Shanti,” he tweeted.
Banker Uday Kotak said: “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!”
