Importance of Long Term Investment : A Personal Story of Becoming Rich by Holding Stock

Infosys is one stock which has been always dear to me as this was the stock which helped me to become multi millionaire from stock market in a single stock sale.

I had a deep interest in stock market and used to invest in thoroughly researched stocks from the beginning of my trading career and found one such gem was Infosys which was undersubscribed and was bailed by Morgan Stanley which picked up 13% of equity at the offer price of Rs. 95 per share. I had also invested in the said stock in IPO and my joy knew no bounds when I found the stock hovering at Rs.145 a share, almost a 60% premium on the day of listing. However I held the stock and avoided taking the short term gains as those days getting a stock in own name was like winning a Jackpot in the market.

It is interesting to note that since listing on the Bombay Stock Exchange till the year 2000, Infosys’ sales and earnings compounded at more than 70% a year.

A detailed analysis for Infosys for stock split and bonus share ratio has been given in the screen shot. One will be able to get answer to queries made on google like Infosys shares bonus, Infosys bonus history, Infosys bonus issue

One will be amazed to note that if one had 100 share in 1993 at IPO bought at Rs. 95 /- the state of investments is as appended below:
(a) Your Total investment in Infosys in 1993– Rs. 9,500/- (100 shares at Rs. 95)
(b) Your Total investment in Infosys as of today i.e year 2009 – 28,51,8400/- (12800 shares at 2228)

Thus the tag line is that if one had invested Rs. 9500 in Infosys in 1993, today you would be sitting on more than 30 crores (including dividends). Thus here comes the importance of investing in stock market and here comes our expertise through delivery stock tips for Indians to multiply their money exponentially.

However I was reluctant to hold the stock so long and undertook the exit in year 2001 at a phenomenal price and became a real multi millionaire on ground, though on paper was a millionaire from the day 1 of the investment in the said stock as I always believed in the fundamentals of the stock.
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Jackpot Bank Nifty Option Tip

Jackpot Bank Nifty Option tip, as the name suggests has the potential to get you more money Profit as it is not the number of tips one trades; but it is the accuracy of a single tip which has the potential to help you realise your financial dreams. This tip is a value for money for all i.e whether one can see the trading terminal or not or is dealing through a broker on phone at BSE, NSE or in F&O. Thus you are on a correct path of making money every day with single daily accurate tip. Click on Image or Post Title to Read More.

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Awards and Recognition

An award is something which is awarded based on Merit. Awards & Recognition are a must in Life as it provides the necessary vigour to keep progressing ahead in Life. Awards do not only acknowledge success; they recognise many other qualities: ability, struggle, effort and, above all, excellence. This is the reason that for past 22 Years we have been christined as Best Stock Market Tips Provider & we are at the 'Top' in this field. Check out our Awards by clicking on Image or Post Title Now!!

Scholarships for Indians | Scholarships in India for Students

It is the aim of our research team to provide the best information and same is related to finance world and we do not stop short of you as your family members are also equally associated with us. We present a researched list of scholarships for students and same can be availed by your children to achieve their dreams for their higher studies. We particularly like the advt where a child on a bicycle to a car owner states "Sirf Do Pahiyon Ki Kamin Hain aur woh Bhi AA Jayenge" and shows the real fighting spirit of today's youth. Indian-Share-Tips.Com which is a financial blog for Indian stock market dedicate the year of 2009 for the youth as they have the power to make or break our nation as at the end of the day it is the man behind the machine who matters the most to achieve the results and thus let them avail these scholarships for higher studies or scholarships for MBA to help them achieve their aim.

So together we promise to provide the best means of education and why not make use of these scholarships which are a means to achieve the net result. As a reader you are requested to update this list through comments and it will go a long way in providing the best education to the deserving lot who should not suffer because of the lack of the funds. One can get the scholarships for engineering students in India or scholarships for studying abroad here.

The list of institutes or companies providing the scholarships in India or Organisations offering loan scholarships is as appended below:

J.N. Tata Endowment
Bombay House,
24, Homi Mody Street,
Bombay – 400 001

K.C. Mahindra Education Trust,
Cecil Court, 3rd Floor,
Next to Regal Cinema,
Colaba, Bombay – 400 039

Sahu Jain Trust,
Time of India, 4th Floor,
7, Bahadur Shah Zaffar Marg,
New Delhi-110 002

Birla Education Trust,
Pilani,
Rajasthan

Aga Khan Education Service (India)
Department of Educational and Vocational Guidance & Career Counselling,
904, Raheja Chambers, 9th Floor,
213, Nariman Point,
Bombay - 400 021

Mahalaxmi Education Trust,
Mahalaxmi Temple,
Bombay – 400 026

Rameshwardasji Birla Smarak Kosh,
Medical Research Centre,
Bombay Hospital Avenue,
New Marine Lines,
Bombay-400 020

Organisations offering Gift Scholarships

N.M. Wadia Charities,
N.M. Wadia Building,
Opp: University,
M.G. Road, Bombay-400 023

Sir Ratan Tata Trust,
24, Homi Mody Street,
Bombay House, Ground Floor,
Bombay – 400 001

Tatachem Golden Jubilee Foundation,
Bombay House, Ground floor,
24, Homi Mody Street,
Bombay – 400 001

Nehru Trust for Cambridge University,
10, Janpath,
New Delhi-110 001

I.T.C. Limited (Scholarship)
Virgina House,
37, Chowringhee,
Calcutta – 700 071

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Jackpot Bank Nifty Option Tip

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Nifty Tips | Sensex Tips | Free stock market tips India | 30 Oct

Nifty Tips | Sensex Tips | Free stock market tips India

Indian market has got over a most crucial phase of the derivative expiry and we are likely to see Nifty consolidate between 4600-5200 levels in the days to come with Nifty 5000 acting as a strong support.

In today’s market banking and metals stocks were the worst hit, and thus these were the shares which were badly hit today. Only solace will come in the market if it starts trading above 4801 level.

If one studies the derivative market than one is likely to see trend in Sensex and Nifty to remain with a negative bias as implied volatility has started increasing after making a yearly low. This correction is good for market and may remain so prevalent during the medium term.

One can use the present correction to enter in good stocks as long term trend of the market is up and it is being forecasted that year 2010 may bring lost glory to BSE and NSE by touching the record Sensex mark of 21000 figure.

As we can see from above image that global indices are showing some recovery and thus one needs to undertake the wait and watch policy to see if the Indian share market also takes a cue from global market and provide some technical bounce back.
Indian day trading tips | Analysis

Stock	Profit (Rs)
Tip 1	Not initiated
Tip 2	Tgt 1 achieved (Rs 170)
Tip 3	1690
Tip 4	Trade not initiated as stock opened gap down.

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Future and Option tips | Analysis

Stock	Profit (Rs)
Tip 1	Not initiated
Tip 2	4320
Tip 3	12911
Tip 4	Not initiated
Tip 5	19350

Jackpot Tip | Result

Stock	Profit (Rs)
Tip 1 (buy side)	Trade achieved target 1 and thus this tip becomes a free tip for the subscribers as per our honest policy.
Additional Sell Tip seeing condition of market	Tip was not to be traded as stock opened substantial gap down.

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Global Commodity News which can affect share prices
Oil rises above $78 after U.S. GDP growth
Corporation Bank Q2 net up on core income, beats forecast.

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Jackpot Bank Nifty Option Tip

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Share Tips India | Stock Market Tips India | 29 Oct

Indian Share Market | Trend Analysis which is Confirmed and Sure Shot

Nifty has gone in down trend and same is also confirmed by the option front as implied volatility has increased by around 200-300 basis points, indicating that the volatility will continue to remain very high till expiry that is due tomorrow.

Thus make sure that you are present near trading broking terminal failing which one may not be able to catch the trend at the right opportune moment.

Index	Support	Resistance
Sensex	16221-15861	6721
Nifty	4699	4961

Intraday Tips | Day Trading Tips | Results Previous day

Stock	Profit (Rs)
Tip 1	1790
Tip 2	440
Tip 3	695

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Future and Option Tips | Results

Stock	Profit (Rs)
Tip 1	18795
Tip 2	21000

Jackpot Tip | Phenomenal Gains

Stock	Gains (Rupees)
Tip	3500

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NEWS FLASH
Corporate News Headline
• Sun Pharmaceutical Industries posted an 11.49% dip in net profit to Rs. 4.53 bn during the quarter ended September, compared to the same period last year, due to regulatory issues and the resultant loss of revenue for its US subsidiary Caraco Pharmaceuticals. (BS)
• Gail India reported 30.31% fall in net profit at Rs. 7.13 bn for the second quarter ended September 30, 2009. The firm had a net profit of Rs. 10.23 bn in the September quarter of last fiscal. (BS)
• Marico has posted 32% jump in its consolidated net profit for the quarter ending September 30, 2009 at Rs. 620 mn as compared to Rs. 470 mn profit it posted in the corresponding quarter last financial year. (BS)

Economic and Political Headline
• After showing a healthy expansion of 7.1% in August, the growth in core infrastructure sector dropped to 4% in September, making analysts wonder whether robust industrial recovery can be sustained. The coal and cement which had led the chart in August by showing an impressive growth of 12.9% and 17.6% respectively, slipped to 6.5% each in September. (BS)
• Orders for US durable goods rose in September for the fourth time in the past six months, a sign factories are helping ring in an economic recovery. The 1% increase in bookings for goods meant to last several years followed a 2.6% drop the prior month, Commerce Department data showed in Washington. (Bloomberg).
• Sales of new US homes unexpectedly fell in September, a sign the housing recovery may lose momentum after a government tax credit expires. Sales decreased 3.6% to a 402,000 annual pace, figures from the Commerce Department showed in Washington. (Bloomberg)

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Sureshot strategy trading stocks | Indian share market tips | 28 Oct

Indian stock market tips | Share Tips India worth Watching

Nifty 4809 is an important level to be watched. Today market bled due to hawkish monetary policy statement by India's central bank, weak global cues and intensive profit taking

Although the Reserve Bank of India did not change its key policy rates, the underlying tone of the monetary policy statement was hawkish. In its second quarter review of its monetary policy, the bank kept the cash reserve ratio, the repo rate and the reverse repo rate unchanged, but it raised the statutory liquidity ratio by a percent to 25%.

In a nutshell global Market have entered into correction mode and so our markets have also become volatile. However a dead cat bounce is not ruled out tomorrow and thus trade with caution till expiry. However presently Nifty trend is down and thus can target 4700 levels.

Index	Support	Resistance
Sensex	16221-15861	16721
Nifty	4699	4961

Intraday trading tips | Analysis for gains day trading

Stock	Profit (Rs)
Tip 1,2 and 3	Not Initiated
Tip 4	625
Tip 5	Not Initiated
Tip 6 (sell call)	6100
Tip 7 (sell call)	7900
Tip 8 (sell call )	1480

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Future and Option Results analysis

Stock	Profit (Rs)
Tip 1	12600
Tip 2	Not Initiated
Tip 3	2960
Tip 4	13593
Tip 5	18768

Jackpot tip Daily Result Update

Stock	Profit (Rs)
Tip (mid size stock sell recommendation)	7900

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Stock Market Timings
All are aware that SEBI has given in principle approval to enhancement of trading hours i.e. trading hours between 9 a.m. and 5 PM. Brokers and traders are worried due to additional sress. As we are aware that cash and equity derivatives market is open from 9.55 a.m. to 3.30 p.m and currency derivatives market is open from 9.00 a.m. to 5.00 p.m. while the commodity derivatives market is open from 8.00 a.m. to 11.30 p.m.

Global news of Cognisance
It is important to note that Google is planning to participate in India’s WiMAX auction with an Indian partner as 3G Auction is scheduled for January 14th.

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Indian Stock Market | Indian Share Market | Tips | 27 Oct

Share Market India and Stock Exchanges BSE NSE Trend Analysis to Make Money

One has to be careful now as the jitters of derivative expiry are being seen in the market. Nifty 4899 is the key level which can make or mar the market and thus bulls and bears are out to have an upper hand. However the positive aspect is that direct tax collections is up 3.7 pc, as per RBI statement which shows that the economy is picking up.

On the derivative front in share market of India one will observe that Nifty call option has added 56,750 shares in open interest, whereas put option added 13 lakh shares in open interest. Market has slipped on caution ahead of RBIs monetary policy review which is scheduled tomorrow.

The state of Nifty in Past one year is as shown in the screen shot and thus one can come to the conclusion that time is the biggest healer and long term investment will always pay an investor like Warren Buffet.

Indian Stock Market Support and Resistance

Index	Support	Resistance
Sensex	16707-16682-16426	17016-17107-17198
Nifty	4959-4947-4909-4899	5060-5100

Our Jackpot tip was the most successful one as it crossed all the targets and it was a small cap stock and one would have had made substantial amount of money trading the stock as a small investment of Rs 50000 would have had fetched returns of Rs 3100.

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Indian Stock Market Intraday Tips | Result Update

Stock	Profit (Rs)
Tip 1	3200
Tip 2	Tip was not to be traded as day open and day high were the same.
Tip 3	Tip opened substantial gap up and thus trade was not initiated.
Tip 4	580
Tip 5	470
Tip 6	Hit stop loss after marginal profit.
Tip 7	1300
Tip 8	580

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Share Market India Results for Future and Option Tips

Stock	Profit (Rs)
Tip 1	Trade was not initiated.
Tip 2	Trade was not initiated.
Tip 3	3588
Tip 4	4800
Tip 5	1160

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Stock Market Tips India | Stock Market News | 26 oct

Online Indian Stock market Analysis and News

As a warning if Nifty closes below 4899 level than one must exit all longs from the market and can stay on the sidelines with cash. However one has to be cautious as Nifty has remained below the psychological level of 5000 on the weekly basis and thus the support and resistances needs to be kept under watch. A reason to cheer is that derivative market is giving a sense of optimism as implied volatility, on the option front has decreased by around 200-300 basis points indicating that buying may continue to emerge at lower levels. Additionally also keep an eye on RBI monetary policy announcement on 27 Oct 2009 which can provide further direction to the stock market.

Index	Support	Resistance
Sensex	16764-16682	17016-17107-17198
Nifty	4987-4936-4899	5060-5100-5151-5150-5500

Intraday Tips India Result Analysis

Stock	Profit (Rs)
Tip 1	Not traded as stock opened substantial gap up.
Tip 2	740
Tip 3	370
Tip 4	930
Tip 4	1990
Tip 5	Not traded as stock opened substantial gap up.
Tip 6	7030
Tip 7	390

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Jackpot Tip Analysis for Subscribers

Stock	Profit (Rs)
Tip 1 (Buy Recommendation)	940 (Success; Both Targets achieved)

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F&O Tips | Result Analysis

Stock	Profit (Rupees)
Tip1	9620
Tip2	Not traded as stock opened substantial gap up.
Tip3	9870
Tip4	2125
Tip5	2800
Tip6	8716

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Stock market news can be accessed to take benefit of the impact of share news on the stock.
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Rakesh Jhunjhunwala Interview | Experience | Tips for Traders

We came across a very free and frank interview with Rakesh Jhunjhunwala where he has given vent to his internal feelings and these feelings range from his initial career days struggle to the views and anguish during Bombay blasts which targetted the Bombay stock exchange.

The interview is as appended below and the sutradhar for this interview is Anuradha SenGupta and it must be admitted that Rakesh Jhunjhunwala has given a very polished and frank opinion which can have a lasting impression on the stock market traders.

Rakesh Jhunjhunwala has made his fame and fortune by calling the markets right. How he has gone with a starting capital of Rs 5,000 to a net worth of a few thousand crore rupees is now the stuff of urban legend. One of the big bulls of the stock market, Jhunjhunwala is quick to point out that he is bullish first and foremost on India's growth story. For the chartered accountant who bet big with the Madhu Dandavate budget of 1989, Bombay Stock Exchange is where it all started.

Anuradha SenGupta: It's 9 o'clock in the morning and we are outside Bombay Stock Exchange (BSE). Do you feel sentimental, when you pass by this road? This is where you started your career about 20 years ago.

Rakesh Jhunjhunwala: I can tell you Anuradha, I started here in 1985.

Anuradha SenGupta: You have been saying hello to a lot of people here.

Rakesh Jhunjhunwala: I know a lot of people here. I had no office here; I used to come here with a bag. We used to get a ticket to enter the ring. I couldn't get the permission, so I used to stand outside the ring and see trading take place. And that's how I learnt. And I remember how I struggled and how I raised money. It's a moment of great happiness. There was a samosa-wala here, right there in the garden and we used to eat samosas. Lovely samosas he used to make.
There was a bomb blast in the BSE and I was in the ring on the day of the blast. And two of the samosa-walas died here. We had 12 exits from the ring. There was such panic after the bomb-blast. And I was afraid of a stampede and kept shouting, "Don't worry, if we die, we'll die together. Don't try to save only yourself." And I saw a view in the gallery ring. Glass broke off and a person's head got cut in the ring. Very vivid and tragic memories of that day. But this street really reminds me of how I used to come here.

Anuradha SenGupta: Everyone saw how Mumbai, how the stock exchange, was back to its feet so quickly after the blast. Now is there something about making money, about trading and business that is linked with this survival instinct?

Rakesh Jhunjhunwala: You know, trading always keeps you on your feet, it keeps you alert. That's one of the reasons why I like to trade.

Anuradha SenGupta: What are these attitudes in life that you have got from your profession?

Rakesh Jhunjhunwala: First thing I've learnt is that markets work. They are the best mechanism to build societies.

Anuradha SenGupta: You are philosophical about what you do, isn't it?

Rakesh Jhunjhunwala: I am passionate, I don't know whether I am philosophical or not. I am observant surely.

Anuradha SenGupta: The India shining story, are you the face of that story, Rakesh Jhunjhunwala?

Rakesh Jhunjhunwala: Well, that's not for me to say. I entered the market at Index 150. Today, the index is at 12, 000. It's eighty times. And you know, I too could have gone abroad, I am a qualified chartered accountant. I could have practiced. It's a fact that a person who started in 1985 in India in stock markets, could meet with success. Which speaks for the volume of opportunities available here.

Anuradha SenGupta: Today, every move you make, every investment you make, every stock you put your money on is tracked, there are people who jump into the bandwagon, whether you like it or not. Does that pressurise you?

Rakesh Jhunjhunwala: See Ma'm, I've no clients except my wife because I don't want to be answerable to anybody. But with her, I've no choice.

Anuradha SenGupta: Does it pressurise you, this performance anxiety? Like if I am a cricketer or a soccer player, and if I start performing well, there's always an expectation that every time I go into the batting field, I'll score a 100. Look at what's happening to Sachin Tendulkar?.

Rakesh Jhunjhunwala: But Ma'm, whether anyone's watching or not, I'm always paranoid about all my actions. And the likelihood of my actions being successful, say five years ago, or ten years ago or today, is only better to the extent of what better experiences I've had. I am fearless. I am not concerned about what people think. I am only concerned about my deeds.

Anuradha SenGupta: You are an icon, when it comes to someone who's successful at the stock market. Are there lot of Bunties and Bablis who want to become Rakesh Jhunjhunwala, you think?

Rakesh Jhunjhunwala: I do get mail from a lot of people, who say they want to invest in markets, and follow my career path. What did I do, they want to know.

Anuradha SenGupta: Ordinary investors, retired people. Do you think there's an understanding that they want to be educated or they just want to make a quick buck?

Rakesh Jhunjhunwala: See, markets are about money, but markets are also about knowledge. Markets are also about egos; markets are also about the satisfaction of having been proved right. Especially, when that right is from an original thought and not from a guided source or following somebody. So I feel the anxiety, curiosity and the anxiousness to know about the market; it's quite general. But markets being markets, the ability is quite limited in my opinion.

Anuradha SenGupta: Greed and fear, you said, are the two traits that have to be balanced. How does one balance them? Give us an anecdote, where you had to balance it.

Rakesh Jhunjhunwala: Anuradha, it's like this. Suppose I invest in Titan. I bought 'x' number of shares, I was extremely bullish, right? And you know, I would have been greedy if I had put in more than certain percentage of my wealth into Titan. And I didn't do it out of fear that Titan might not do well. I might lose my principal.

Anuradha SenGupta: What about ACC? You sold ACC at lot less than what it actually went on to be?.

Rakesh Jhunjhunwala: Ma'm, about markets, they say, either don't come to markets or don't regret what you have done. Right? Naya gilli, naya dao. I think the second quarter 1991 result was the best ACC produced for the next 10 years. And after those results came, I sold the shares. I bought them for 300 and within three months, I'd sold them for 3,500. And the price went to 10, 000. I've no regrets.

Anuradha SenGupta: You have no regrets, but what principle drove you at that point, fear or greed?

Rakesh Jhunjhunwala: I think I was neither being greedy nor being fearful, I was just being rational.

Anuradha SenGupta: Celebrating three years of the bull run, the BSE Index has gone from 3000 plus to 12,000 plus in just three years. And this investor says, it's going to continue that way.

Rakesh Jhunjhunwala: You know, Sensex has gone from 3000 to 12,000 in the last three years. You know people are excited, everybody's making money and that's why markets are making headlines. As they say Teji me sab ka bol bala, mandi me sab ka muh kala.

Anuradha SenGupta: Every time the markets run up, people get extremely euphoric and they get very very nervous, isn't it? And you are the guy whom they run to defend the bull run?

Rakesh Jhunjhunwala: There's no question of defending the bull run. See, we forget what markets are. Markets reflect economic truth and fundamentals. And I think India is going into a lot of unprecedented economic growth, I think the markets are only recognising that.

Anuradha SenGupta: Why is it so difficult to believe what you are saying? Why is there this fear psychosis, that if things are good, then they are bound to go bad?.

Rakesh Jhunjhunwala: I think for two reasons - past experiences and the inertia of the mind that India can have continued economic growth. And also because we've had two scams in the stock market, this also made people very suspicious of the markets. I think there is a combination of reasons.

Anuradha SenGupta: Are you saying that we should not be suspicious at all this time round?

Rakesh Jhunjhunwala: Well, I don't think there's a need to be suspicious, although I think you need to be alert. I don't think there's any scam in the market.

Anuradha SenGupta: Now, in the past, in the secondary markets, where we've seen these two scams happen, the primary market has been a safer place for retail investors. Now it looks like the primary markets are also a suspect, isn't it?

Rakesh Jhunjhunwala: Let us understand one thing that misuse of mechanisms is part of every market. All markets have to evolve. So therefore, we've to go to a stage of evolution where people are going to take advantage of the law. But law will catch up, right?

Anuradha SenGupta: You have always defended the regulator very strongly saying that the regulator is in place and that regulator systems and processes are just fine. Do you stand by that?

Anuradha SenGupta: See Ma'm, we may be critical of some mistakes that the regulator might have made, but we should realise that in the Indian stock markets, we have gone from the wild west to being one of the most modern trading system in the world. And in a very short span of time. Every regulator has to evolve. And mistakes are going to be made during evolution. So I think it's a matter of a glass being half full or half empty.

Anuradha SenGupta: Ironically, while Jhunjhunwala has all the trappings of success, he still clings to his middle-class south Mumbai roots. Proud to be a self-made man, he can't help spouting Jhunjhunwala-isms.
Anuradha SenGupta: What I want to know, how important is it for you that people are always guessing how much you are worth? It's important, isn't it, that people don't really know?

Rakesh Jhunjhunwala: What irritates me, is how does it matter to them. And see, I am not running any relay race, I am not in any rat race with somebody and I want to be richer than somebody or I want to be the richest man. My purpose in life is to do what I enjoy and enjoy what I do, right? And wealth is a bi-product of what I do. Why do people want to know what my wealth is. How is it relevant?

Anuradha SenGupta: Maybe only because your claim to fame is the money you made on your own, the first generation from scratch starting with Rs 5,000?

Rakesh Jhunjhunwala: I think what is more needed to be appreciated is not the wealth I have as such but, how I made it. By God's grace, I am a rich man. How rich I am, how is it important? I can tell you one thing, I am rich enough for my wealth to matter internationally.

Anuradha SenGupta: You just mentioned that you are not in the rat race, how do you react when you see these lists that come out - 100 richest men in the world, 100 richest Indians, 50 most powerful Indians? Because you have figured in some, haven't you?

Rakesh Jhunjhunwala: Well, I have no press agent and I have no press agency, right? And I am not seeking any publicity. But as long as any list is a recognition of human effort and human achievement, then I would be lying if I said I don't like to be in that list. So, I like it to be there, but I am not making any special effort to be on this list. Being on the list is coincidental and not the purpose of my work.

Anuradha SenGupta: Then obviously there's no ambition to be on any other list and on higher number on any list?

Rakesh Jhunjhunwala: Not at all.
Anuradha SenGupta: You have often and emphatically pointed out that there's a lot of research, a lot of data gathering and a lot of knowledge accumulation that goes into this business of yours. What do you read?

Rakesh Jhunjhunwala: See, I read Economist and India Today, which I read cover to cover every week. In the Economist, I read the entire business section and the science and technology section. These are my constant reads. Then I read broker reports and go through balance sheets.

Anuradha SenGupta: There are five screens here, could you quickly tell us which one does what?

Rakesh Jhunjhunwala: Well, these are all of the BSE NSE live screens, where I track the prices. The first one right here is my investments. These are the futures.

Anuradha SenGupta: There are 31 scripts there?

Rakesh Jhunjhunwala: Yeah, except CL, all of them are my investments. These are all my shares in which I have some short-term positions. These are just some companies whose prices I want to follow. And these are the futures that I trade, right? This is the live Reuters screen, from where I get information. And this is the Internet. And there's the television.

Anuradha SenGupta: Can you go through a single day without having, if you want to, conversations with anybody outside.

Rakesh Jhunjhunwala: There are a certain people whose views I value, some friends with whom I discuss matters, so I talk to them. Essentially, the decisions in trading and investment are very lonely decisions. And I, of course, can trade without talking to anybody. But I do tend to talk to people.

Anuradha SenGupta: You know I have spoken to a few people, who say there's a contradiction in Rakesh Jhunjhunwala. There's this long time view he has on some shares and he stays and he stays and he stays. Hangs in there, tight. And here on his trading screen, he can make and lose 20 crores or 50 crores in a blink. As we talk, can you do that?

Rakesh Jhunjhunwala: Well, I don't do that kind of trading. I hold investments for a long time because I read somewhere and time has taught me that we should be greedy, but long term greedy. So, when you have something good, stick to it.

Anuradha SenGupta: What about the other screen?

Rakesh Jhunjhunwala: Ma'm, I had no capital when I came to the markets, and no father gifts and no father-in-law gifts. So I had to earn the capital to invest. How do you invest if you don't have the capital? And I got the capital by doing all this future trading.

Anuradha SenGupta: And you can lose and make up to how much, say as we are talking?

Rakesh Jhunjhunwala: I would not like to quote figures. I only make mistakes, which I can afford, where I can lift to begin again.

Anuradha SenGupta: You get in actually before the trends start, isn't it? For the investment decisions?.

Rakesh Jhunjhunwala: By God's grace, I think from 1985-86 to 2006, I had been able to catch most; say if there are 10 cycles in the market, then I have been able to catch 9 right. So investment wise, the cycles have been good. In trading, we make mistakes everyday. You know one author once said beautifully, that it's important that you are right or wrong in trading; it's important how much you lose when you are wrong and how much you make when you are right.

Anuradha SenGupta: If you lose money, do you feel stressed?

Rakesh Jhunjhunwala: No, never. I feel it for five minutes. Because Ma'm, I am not staking more than two or three percent of my wealth in these. I always remember Churchill's words.

Anuradha SenGupta: You've quoted Churchill. You quote very regularly. Do you read anything else that these people have written? The non-investing legends.

Rakesh Jhunjhunwala: Well, Churchill was not an investing legend at all.

Anuradha SenGupta: Exactly. So, do you read beyond the quotes that have come in the books?

Rakesh Jhunjhunwala: I am very fascinated by the Second World War. I have seen so many movies on the Second World War. I saw 25 CDs on the war and that gives you lot of quotes. Now, my non-market, non-economic reading is much lesser. I was a voracious reader before 35.

Anuradha SenGupta: Even by international standards, your good wealth is what you sell. Does that mean you are ready to trade and to invest in international markets? What's stopping you? Is it legality or is it scale?

Rakesh Jhunjhunwala: There are two to three reasons. First, even if I desire, I cannot do it because all my wealth is in India. By 2010, we will have capital ready. That's my guess. Second, the opportunity in India itself is so huge. And, so nascent. When we are getting good food at home, why think of a restaurant? And third, to invest at international scale, I need to build a bigger and broader organisation. I think I will have all the three by 2010.

Anuradha SenGupta: What in terms of capital you need to invest to be considered of a notable investor?

Rakesh Jhunjhunwala: I don't want to go into any market to be noted, I want to go there to make money.
Anuradha SenGupta: So, capital is not a limitation?

Rakesh Jhunjhunwala: No, capital is never a limitation.

Anuradha SenGupta: You work with money. To put it very simplistically, where do you save your money?

Rakesh Jhunjhunwala: Where do I save my money? Well, whatever I earn, less my expenses is my saving.

Anuradha SenGupta: Away from the stock markets, are there any areas you would save your money - art, real estate?

Rakesh Jhunjhunwala: No art really. I bought one painting last month. I have a house apart from this office, so no real estate either. I've invested in some real estate funds.

Anuradha SenGupta: So what is saving for Jhunjhunwala?

Rakesh Jhunjhunwala: My wealth is a valuable portfolio, that's my saving.

Anuradha SenGupta: Can that be notional also because today depending on the markets, it's x today and goes down tomorrow?

Rakesh Jhunjhunwala: I wouldn't say it's notional, it's fluctuating.

Anuradha SenGupta: Doesn't it bother you sometimes that you are not the guy with the ideas; you are the guy who is backing the guys with the ideas?

Rakesh Jhunjhunwala: I don't think so. There are various parts of creating anything. So when I invest in a company at an initial stage, I am handling with that company. I distinguish between my chairmanship of Aptech and my directorship of other companies. In Aptech, we are under management control of the company. So we are exactly running it.

Anuradha SenGupta: What's the experience like? For you it's a new experience, isn't it?

Rakesh Jhunjhunwala: It's a challenge, Ma'm. I don't know whether I will be successful. I will know in five years. But I love a challenge. Funds worldwide have made billions of dollars by taking over management control of companies. Now I had never taken management control of any company prior to Aptech. I think it will take 4 or 5 years. I still come to the year 2010.

Anuradha SenGupta: Is 2010 a year when a lot of things will happen to Rakesh Jhunjhunwala?

Rakesh Jhunjhunwala: Yes. I will be fifty that year.

Rakesh Jhunjhunwala: I never said that. They are very flexible milestones. In a stock market, people come on CNBC and give targets. I think of targets but they are very flexible. If I succeed in reviving Aptech and we get a very good profitable company then I will get courage to buy management control of larger companies.

Anuradha SenGupta: We talked about how markets are all the time on a bull run. And when Sensex keeps climbing, there is great excitement and fear. Does it bother you that people like you are scrutinised very intently at these times?

Rakesh Jhunjhunwala: Ma'm, I am concerned about one thing. I follow the law in letter and spirit and we live in a democracy. I act in accordance with the laws in government institutions. Now if the government has a right to examine everything, whether we like it or not, we have to accept it. And that's part of life.
Anuradha SenGupta: But this suspicion that comes up every time, especially in this business, does that bother you?
Rakesh Jhunjhunwala: Not at all. Whatever I have done in life, people have looked on with suspicion. Imagine a chartered accountant in 1985 coming from a bureaucratic family, going to this stock market and standing on the streets. My father is a member of the Wellington club from 1973. I am a qualified chartered accountant. I don't think culturally I have done anything wrong. But they don't want to make me a member of Willington club. It's their choice. Initially, I used to react to this with anger. Now I react to it with maturity. People will have any opinion; time will change their opinion.

Anuradha SenGupta: If you have made your money as a trader or investor in the stock market, somehow it is not as respectable as the captains of the industry? Does that bother you? Because you are putting in huge amounts of education and knowledge to make the kind of investments you are making?

Rakesh Jhunjhunwala: Ma'm let me tell you one thing. Let me be very candid. For the kind of recognition I have got, I don't think it's not respected. It's now not respected in antique minds. If capitalism is the only method of government, then the only temples of that form of government are the stock markets. And believe me, I am not doing anything to be recognised by anybody. The recognition is incidental. I am doing what I enjoy to do.

Anuradha SenGupta: But Rakesh, it bothers you enough today to remember the incident of Willington club not giving you membership?

Rakesh Jhunjhunwala: But that maybe was 10-12 years ago when I might have felt a little pinch. Now I don't feel it. Jhunjhunwala chooses to live in a joint family. Without the economic and emotional support of his parents, he is clear that he would not have managed to throw a conventional career to the winds. His family including his sisters and brothers are the only people who benefit from his stock tips.

Rakesh Jhunjhunwala: My dad is the person who has taught me the most in my life. And I think whatever I am in life, he has a very substantial contribution in it. He's the most democratic father. I had a curiosity and he has nurtured that curiosity.

Anuradha SenGupta: So you are not a mummy's boy; you are a daddy's boy?

Rakesh Jhunjhunwala: No, I am both mummy and daddy's boy. I am the baby of the family at 46. And the youngest tend to be both. I live with my parents and we are a very close-knit family.

Anuradha SenGupta: You have a daughter, Nishtha. I remember hearing you say that you have several challenges in front of you; the first challenge is to be able to look after your health i.e., cut down on drinking, smoking, so that you can spend a minimum of 35 years with your daughter Nishtha. How are you doing on that challenge?

Rakesh Jhunjhunwala: Well, I am just starting to work on it.

Anuradha SenGupta: What I am quoting is what I heard two years ago. And you are still trying to work on it?

Rakesh Jhunjhunwala: I think it's better late than never.

Anuradha SenGupta: You are still trying to work on it?

Rakesh Jhunjhunwala: Yes, and I will eventually.

Anuradha SenGupta: But you are talking about 2010, you are talking about Nishtha, about parents who've supported you in your career choice and with who you live today out of choice. Surely it bothers them that you are not dealing with this challenge upfront and with the kind of effort that's needed? What do you have to say to them?

Rakesh Jhunjhunwala: Well, I have no face to face them. Here I have lost a battle but I have not lost the war.

Anuradha SenGupta: Ok, Rakesh Jhunjhunwala, on one of those stock quotes. I am going to wish you all the very best in this battle. And I hope that the markets continue to rise and nobody pays a price for it.

Rakesh Jhunjhunwala: Well, that's a hope which may not be very legitimate, because in markets, some are going to win, some are going to lose. My hope would be to let India's economy prosper, let all Indians have at least basic needs. Let us build a society, which is egalitarian, where we allow people's skills to flow.

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