with Ramdev Agarwal Rakesh Jhunjhunwala In 1988 he was first found to be exceptionally intelligent and complete stock market Gyan, chairman of Motilal Oswal, said in a 2022 podcast ‘Market Talk’ by Groww, which was later compiled in a book titled ‘The Alpha Bets’. He said, “Even at that time, Rakesh held very big positions. There was nothing hidden in his life. He was a person who wanted everyone around him to make money.”
Rakesh Jhunjhunwala could be rude at times, but that was because he was very articulate, according to Aggarwal, who added that the late investor was a gem. Ramdev Aggarwal said that Jhunjhunwala was known as a negotiator and an exceptional bargainer. “Not because he was a CA. It was a natural quality, a gift that allowed him to read or understand a bargain. And when he got one, he knew how to make the most of it,” he said in Grow’s podcast, as quoted in the book.
Rakesh Jhunjhunwala’s Titan bet
Ramdev Aggarwal explained this with the example of Jhunjhunwala’s bet on Titan. In 2001–2022, several adverse external factors such as increase in the price of raw materials, especially gold, greater competition and lower demand also affected the company’s profitability, as well as disputes between the company management and the employee union, which led to a lockout at the company’s flagship factory in Hosur.
As this long list of the company’s difficulties and poor performance became public, Titan’s share price fell to a low of Rs 29. Rakesh Jhunjhunwala started buying Titan shares around this time at a low price of Rs 30 to Rs 35 per share. As of March 31, 2026, Jhunjhunwala’s family holds about 5% stake in the company, which is now worth about Rs 20,250 crore.
Aggarwal said that many people had bought Titan shares in the initial days, but hardly anyone held them for 20 years. However, Jhunjhunwala did so as he saw the company transform from a watch manufacturer to a jewelery business. He said, “That’s what makes him different. Of course, he also had some faults.”
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Aggarwal said he also sold Titan shares at a time when Jhunjhunwala was actively buying them. While there were disagreements between them, the chairman of Motilal Oswal said that Jhunjhunwala was ahead of his time.
Jhunjhunwala died in 2022 at the age of 62 due to kidney related problems. Born on July 5, 1960, the investor and trader was known for his interest in identifying gems. While he was alive, he managed an asset firm called Rare Enterprises. Growing up in a Marwari family, he developed a passion for the stock market at an early age. A qualified chartered accountant, he invested in both his name and his wife Rekha Jhunjhunwala’s name. He favored stocks from finance, technology, retail and pharma sectors.
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