Mumbai, Aug 14 (UNI) Veteran investor Rakesh Jhunjhunwala, also referred as Big Bull of Dalal Street, passed away on Sunday morning at the age of 62.
Jhunjhunwala was battling multiple health conditions.
A long-standing investor in the Indian capital market, Jhunjhunwala made most of his wealth by investing and trading in the Indian markets for over 30 years.
Jhunjhunwala also founded India's newest airline Akasa Air which recently started its maiden commercial flight. Low-cost carrier Akasa Air is the seventh scheduled airline with brand name of SNV Aviation having corporate headquarters at Mumbai.
A qualified chartered accountant Jhunjhunwala was often referred as 'Warren Buffett' of India.
Tributes poured in for Jhunjhunwala from industry captains as well as political leaders.
Prime Minister Narendra Modi paid tribute to the ace investor saying that he was full of life, witty and insightful.
"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," Modi wrote on Twitter.
Terming Jhunjhunwala as the most legendary investor, Adani Group Chairman Gautam Adani said that he inspired an entire generation to believe in equity markets.
"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 said.
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