Latest Stock Market News

"Although there has been some bounce back in the mid and small-cap stocks; however, smallcaps is still at a significant discount from its high. The smallcap tends to get significantly more in a downturn, it looks like the market is pricing in some sort of downturn there. However, small and midcaps are very much bottom-up segments of the market, and we find a lot of opportunities in that space."

As many as 40 stocks across the sectors have rallied 100-425 per cent since the last Independence Day, rewarding the investors, the data from Ace Equity suggests. Despite the inflationary pressure, strong FII pullout, depreciating rupee, rising crude oil prices, interest rate hikes and geopolitical crises, these stocks have been able to hold ground with sharp upside in the last 12 months.

“He was a great trader and a great investor and understood price as well as value and that was truly unique. He could see undervalued companies, undervalued stocks, he could see the long term in that. He followed only how the price is going to behave but also how the company is going to behave and a lot of those nuances have been truly very insightful.”

Lupin is the other favourite stock pick of Jhunjhunwala that made him some big money. He started buying Lupin shares in 2003 when the market cap was around ₹500 crore. In June 2008, he held a 4.29% stake in Lupin valued at ₹154 crore. Jhunjhunwala reduced the stake gradually and exited the company fully in September last year when the market capitalisation was around ₹44,000 crore.

​​Even as many swashbuckling traders and speculators of yore faded away because they were unable to keep pace with the changing face of the Indian stock market, Jhunjhunwala, also known as Rocky in the market, segued effortlessly into the more formalised market system and some of his farsighted bets over the past two decades helped him amass wealth, earning him a cult following across the country.

In an interview two years ago, the “Big Bull” had said that on his last day, he wanted to do some trading, investing and have two drinks before God took him away.

Jhunjhunwala had investments in more than three dozen companies, the most valuable being watch and jewellery maker Titan, part of the Tata conglomerate. His portfolio includes companies like Star Health, Rallis India, Escorts, Canara Bank, Indian Hotels Company, Agro Tech Foods, Nazara Technologies and Tata Motors.

As a staunch believer in India, Rakesh bhai was convinced that the sone ki chidiya was on a steady path to re-emerging as the preeminent economic power in the world.

The largest cryptocurrency rose as much as 2.2% on Sunday to $25,031, its highest level since June 13. It was trading around $24,750 as of 6 a.m. New York time, rising a fifth straight day in a streak fueled by US consumer-price index data that came in below expectations.

He had an elephantine memory. He could tell an MD, ‘But 12 years ago, you were generating an RoCE in the range of 18-20%, so why are you earning less now?’ Most MDs would be caught off guard. They dreaded him.