Please read the DISCLAIMER at the bottom of the blog.

Rakesh Jhunjhunwala is considered to be the greatest investor in Indian Market. He is supposed to have made Rs 5000 crores by just investing Rs 5000 in Indian Stock Market. Rakesh Jhunjhunwala guru mantra to be successful in stock market is as enumerated below:

(a) He advises people to become interested in a stock when none is interested in the same stock. As per him BUY RIGHT & HOLD TIGHT for years to come. He has been holding few stocks for last 10 years and he is still minting money from those stocks.

(b) He further advises that one should not follow big investors blindly as their risk profile and long term goals with time frame may be difficult to be followed by retail investor.

(c) Market is supreme and every thing is reflected in the price and thus their is no point in fighting the trend as market is always right.

(d) One should be able to create a balance between the fear and greed.

(e) As per his words one has to learn the stock market trading as none can teach the market as stock market experience is the best teacher.

Thus follow Rakesh Jhunjhunwala advice in stock market, BE PATIENT and grow big like Warren Buffet or this iconic man from Dalaal Street.

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Friday, January 30, 2009

Bhushan Steel eyeing Orissa Sponge buyout ( Rakesh Jhunjhunwala has sold his holdings in Bhushan Steel)

Domestic steel producer Bhushan Steel ( No More Part of Rakesh Jhunjhunwala portfolio) is looking to acquire controlling stake in Orissa Sponge Iron and Steel with an aim to further expand its business in the coastal state.The company had yesterday bought an additional 9.5 per cent stake in Orissa Sponge Iron through its sister firm Bhushan Energy for Rs 22.30 crore from the Unitech&aposs promoter group firm Prakausali Investments, which held 12.11 per cent stake in Orissa Sponge.

Given an opportunity, Bushan Steel is likely to buy controlling stake in that company. The company now holds nearly 15 per cent stake in the Orissa-based firm. Earlier Bushan Steel had 5.35 per cent stake in the Orissa Sponge and Iron, and now they have bought additional 9.5 per cent at the market price.

However, Bhushan Steel may acquire more shares through block deal from Unitech&aposs promoter group firm. It bought 19 lakh shares from Prakausali Investments, which has nearly 36 per cent stake in country&aposs second largest realty firm Unitech.

Bhushan Steel at present has a steel mill with an annual production capacity of about 1 million tonnes per annum (MTPA) in Orissa. The firm is expanding the facility to 5 MTPA by 2012 at an approximate investment of Rs 15,000 crore.

As per Sep 08 share holding pattern, Rakesh Jhunjhunwala was holding 8,20,000 shares of Bhushan Steel but as per Dec 08 shareholding pattern , he has sold of his stake in Bhushan Steel.

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.

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