INDUSTRIALISTS, MARKET EXPERTS MOURN JHUNJHUNWALA’S DEMISE

Finance Minister Nirmala Sitharaman, market experts, and industrialists Gautam Adani and Ratan Tata paid tributes to veteran stock market investor Rakesh Jhunjhunwala on Sunday. Market experts also mourned the demise of the 62-year-old ace investor and said that his strong belief in the country›s growth story and «unshakeable» confidence in markets made him one of a kind. Jhunjhunwala passed away on Sunday morning in Mumbai. His net worth was US$ 5.8 billion (about Rs 46,000 crore), according to Forbes.

Finance Minister Nirmala Sitharaman called Jhunjhunwala a bold risk taker and remembered her conversations with the late stock investor. «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 had. He had strong belief in India’s strength and capabilities. Condolences,» she said. Union Civil Aviation Minister Jyotiraditya Scindia said, «He was a symbol of India›s entrepreneurial spirit. I believe the things he had achieved and established will be a source of inspiration for thousands of youth.»

Adani tweeted, «Extremely saddened by the untimely passing away of the most legendary investor that India has had. 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.»

Ratan Tata, Chairman Emeritus of the Tata Group, said, «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 foresightedness. My heartfelt condolences go out to his family which has to share the burden of this great loss.» Zerodha co-founder Nikhil Kamath tweeted, «There will never again be someone like you, RIP.»