India

Jhunjhunwala’s new airlines at such a time

Seeing it, from Jet to Deccan Airways and Vijay Mallya’s King Fisher Airlines, the government of India also had to take the step of selling its Air India. So when I read about stock market veteran Rakesh Jhunjhunwala starting a new airline Akasa at a cost of billions, I was very surprised. Because I consider him a very intelligent person. rakesh jhunjhunwala airline Akasa

When I had heart surgery in 1999, I was lying on the bed for months because the doctor had forbidden me to run. I used to watch TV to pass the time lying down. Then there was not enough channels like today, so often I used to set up economic panel JCG to change my taste. Rajesh Tambe, an economic expert, came on it, I loved the way he presented. Once I heard him say that one should never invest money in the shares of an airline. I was not fond of investing money in stocks. Still, I tied his advice which proved to be correct in future.

Seeing it, from Jet to Deccan Airways and Vijay Mallya’s King Fisher Airlines, the government of India also had to take the step of selling its Air India. So when I read about stock market veteran Rakesh Jhunjhunwala starting a new airline Akasa at a cost of billions, I was very surprised. Because I consider him a very intelligent person. He has now become the first Indian to buy a Boeing aircraft worth $9 billion despite two Boeing 737 MAX crashes in Indonesia and Ethiopia.

Prior to this, most of the Indian airlines have been full of Airbus planes. They have ordered to buy 72 Boeing 737 MAX aircraft together. He is taking many planes to start his cheap airline company in the next year 2022. After two accidents in the year 2019, Boeing had either recalled all its 737 MAX Boeing aircraft to the company to make necessary modifications or had them grounded.

He says that this aircraft manufacturing company will give a lot of help to his aircraft company. They will be able to carve out a niche for themselves in the cutthroat air travel sector. We want every section of the Indian citizen to take advantage of air travel. There are currently 540 Boeing aircraft in India, which is 83 percent of the total number. Indigo company has the most.

Read also How is this India becoming?

Why Rakesh Jhunjhunwala decided to start a new airline is beyond my comprehension. Born in Jhunjhunu, Rajasthan, this niche stock market expert grew up in Mumbai. His father was the Commissioner of Income Tax. They are considered experts in the stock market. He is the owner of Rare Enterprise, a well-known company in this sector. He decided to become a CA after graduating. His other companies are named Aptech Ltd., Digital Media Entertainment Pvt. Ltd. Is. He is also the director of several companies.

He is known as the Big Bull of India. Some people also call him the King of Bull Market, the Shardiya Raja of the stock market. He started buying and selling in the stock market with Rs 5000. Earned 5 lakh rupees in 1986. In the next three years, he earned Rs 20-25 lakh. This year he became the biggest investor in Titan Company to invest Rs 7294 crore. He is also one of the Advisory Directors of the United Nations. Remind that he was played by Kevin Dave of the web series Scam 1992. Last year, SEBI conducted an inquiry against him on charges of insider trading but acquitted him of all charges.

Despite being born in a middle-class family, Rakesh, considered the Warren Buffet of India, started his interest in the stock market while studying in college. Today he is the 48th richest man in the country. His total assets are Rs 34387 crore. He tells that in the evening when his father would sit and put a peg, he would discuss the stock market with him and gain knowledge and the next day would take advantage of it in the stock market.

He loves Hindi movies. He has also produced a Hindi film. He is quite a donor by nature and gives 25 per cent of his wealth to charity. He regularly donates money to many organizations, including the St. Jude organization, which runs the organization of children suffering from cancer. They also financially help the university started for the tribal society. They are also building a big eye hospital in Navi Mumbai. He loves to eat, especially Chinese food. He enjoys watching cooking shows. His wife Rekha also keeps investing in the stock market, she has invested money in 37 types of stocks. They are very optimistic from banking stocks. He earned a lot of money during the Harshad Mehta period while living in Mandia (beer). Although he does not consider Harshad Mehta to be a manipulative.

When all the airlines of the country have incurred losses during the Corona period and despite being a big airline company like Indigo Airlines, have incurred a loss of Rs 3174 crore, then in that situation Rakesh Jhunjhunwala’s new aircraft in the participation of former CEO of Jet Airlines Vinay Dubey Starting a company seems like a novel experiment. How successful it will be, only time will tell. By the way, Rakesh Jhunjhunwala says that one should not borrow money from anyone to invest money in shares and should keep reading the newspaper regularly because people take their financial decisions only after reading the news of the newspaper.

Shivam Bangwal

Shivam Bangwal is an India-based Entrepreneur. He is the Founder of Successful Startups like Youthistaan, People News Chronicle, Hitchhike TV & Branding Panther. Shivam has done his Master's in Computer Applications.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button