The New Big Bull! Here's How Rakesh Jhunjhunwala Earned ?1400 Crore Despite The Pandemic

For most, stock markets are a risky affair but not when you are?Rakesh Jhunjhunwala.?

Known better as India's richest investor, he is the only one in the country who reportedly earned Rs 5.56 crore everyday since March 23 adding an astounding Rs 1,400 crore to his net worth, as reported by Financial Express. Now, doesn't this sound strikingly similar to the success Harshad Mehta saw in stock markets as shown in the hit web-series,?Scam 1992, the Harshad Mehta Story??

Rakesh Jhunjhunwala / Agencies

The first big question is, how exactly did Rakesh Jhunjhunwala earn Rs 5.06 crores per day and most will be surprised that this earning came from the shares of just one company- Escorts Ltd.?

The website of Escorts Ltd describes the company as one of India’s leading engineering companies for farming and construction equipment. Back in September 2013, Rakesh Jhunjhunwala bought its shares worth 50 lakhs. Fast-track to March 2020, the company's share price fell down to Rs 551 due to the coronavirus pandemic marking Jhunjhunwala's stake at?501.41 crore.?

Rakesh Jhunjhunwala / Agencies

While most investors sold their shares, Rakesh Jhunjhunwala held onto his, and in September 2020 due to an increase in sales,?Escorts Ltd’s stock reached an all-time high at Rs 1,233 crore. This meant that Rakesh Jhunjhunwala’s held shares amounted to Rs 1,222 crore.?

Now according to Business Today, Jhunjhunwala made a profit of?Rs 620.26 crore from March 2020 to September 2020 and when broken down, every single day's earning comes to 5.06 crores.?

Rakesh Jhunjhunwala / Agencies

If that's not a masterstroke, we don't know what is!