The demise of Rakesh Jhunjhunwala, a self-made trader, investor and businessman, known as the 'Big Bull' of Dalal Street sent a wave of shock across the country. The 36th richest billionaire of India was not keeping well because of a kidney failure and has recently appeared in wheelchairs for events.
The Akasa Air founder had an estimated net worth of around Rs 46,000 crore.
Tributes poured in for Jhunjhunwala from several prominent personalities of India.
Prime Minister Narendra Modi remembered Jhunjhunwala as somebody who is full of life, witty and insightful. He tweeted Jhunjuhunwala was passionate anout India's progress.
Home Minister Amit Shah expressed his anguish and credited Jhunjhunwala for inspiring countless investors.
Gautam Adani and mining baron Anil Agarwal on Sunday led India Inc in paying tributes to veteran stock market investor Rakesh Jhunjhunwala, who passed away early this morning.
"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 tweeted.
Veteran banker Deepak Parekh said Jhunjhunwala was a modern day legend with the optimism that gave a fillip to the Indian market trajectory.
"He was a strong proponent of Indian enterprise and the ensuing uptick of the India growth story,"he said. "He believed in the caliber and innovativeness of the typical Indian entrepreneur, asserting always that India would not only meet all geopolitical challenges but emerge as the front runner of the world economy."
Banker Uday Kotak said: "Rakesh Jhunjhunwala: my school and college mate. One year my junior. Believed stock India was undervalued. He is right. Amazingly sharp in understanding financial markets. We spoke regularly, more so during Covid. Will miss you Rakesh!"
Mining baron Anil Agarwal said Jhunjhunwala will forever be known as the man who popularised public understanding of stock markets.
"Breaks my heart to know that a friend of mine, and more widely known as the big bull of our stock market, is no more...Rakesh Jhunjhunwala will forever be known as the man who popularised public understanding of stock markets. My prayers go out to his family & friends. Om Shanti," he tweeted.
Defence Minister Rajnath Singh attributed Jhunjhunwala for being at the forefront of creating a culture of investing in Indian stock markets.
Civil Aviation Minister Jyotiraditya Scindia also paid his tributes. "Shri Rakesh Jhunjhunwala Ji was not only an astute businessman, but also passionately invested in India's growth story" he said.
"Saddened by this news. Most unexpected and only 62. He inspired many people to invest in our public markets. And was promoter of a few," Kris Gopalakrishnan, Chairman, Axilor Ventures said.
Tata Sons Chairman N Chandrasekaran said Jhunjhunwala believed in India and the sheer potential of the country.
"This conviction led him to consistently make bold decisions throughout his life and career. He had tremendous regard for the Tata Group. Mr. Jhunjhunwala’s passing is an irreparable loss and we extend our deep condolences to his family and friends," he added.
Suhel Seth shared a heartwarming photo of himself and Jhunjhunwala. He called the billionaire as empathetic and amazing person.
Former Cricketer Virender Sehwag called Jhunjhunwala's death as end of an era.
Akasa Air, the airline that marked Jhunjhunwala venturing into the aviation sector remembered its founder and thanked him for believing in the idea of building an a-class airline.
Shiv Sena leader Aaditya Thackeray bid adieu to the 'Big Bull' of Dalal Street.
Maharashtra Chief Minister Eknath Shinde said that India has lost a gem.
Union Minister Smiriti Irani expressed sorrow by saying she lost her brother