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PM Modi Meets Rakesh Jhunjhunwala, Says Ace Investor is ‘Very Bullish on India’

By Priyanka Verma 
Updated Date

Prime Minister Narendra Modi on Tuesday shared a photo on social media where he was ‘delighted’ to meet one of India’s biggest stock market investors Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala.

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“Delighted to meet the one and only Rakesh Jhunjhunwala…lively, insightful and very bullish on India,” posted PM Modi on Twitter after meeting Jhunjhunwala, who is often referred to as the Warren Buffett of India or the Big Bull and whose every stock move and investment strategy on Dalal Street are closely tracked by investors.

PM Modi was called on by Jhunjhunwala and QS Quacquarelli Symonds Ltd MD Nunzio Quacquarelli in New Delhi earlier in the day. “We talked at length about aspects relating to the education sector,” tweeted PM after meeting Quacquarelli.

Jhunjhunwala is an Indian business magnate and stocks trader. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises. During his early life, Rakesh grew up in an Agarwal Family in Bombay, where his father, worked as Commissioner of Income Tax, Bombay.

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He has an estimated net worth of $5.7 billion (as of October 2021).

According to Forbes’ Rich List, Jhunjhunwala is the 48th richest man in the country. He is the chairman of Hungama Media and Aptech and sits on the board of directors of firms such as – Viceroy Hotels, Concord Biotech, Provogue India and Geojit Financial Services.

Recently, Jhunjhunwala also announced that he is is planning on having 70 aircraft within four years for a new airline he wants to set up in India on optimism more people will travel by air.

The ultra-low cost airline will be called Akasa Air and the team, which includes a former senior executive of Delta Air Lines Inc., is looking at planes that can carry 180 passengers, he said.

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