Positive impactCorporate Action
Big Bull's magic: How Rakesh Jhunjhunwala turned Rs 1 crore into Rs 20 crore overnight after the 1989 budget
Economic Times 1 hr ago·16 Aug 2026, 8:11 am
Rakesh Jhunjhunwala, known as the 'Big Bull' of Indian markets, made a notable investment decision in 1989. He went against the prevailing market sentiment ahead of the Union Budget, which many expected to be anti-business. Jhunjhunwala's contrarian approach paid off, as the budget turned out to be more growth-oriented than expected. This move helped him achieve significant gains, showcasing his conviction and investment strategy. This historic example highlights the importance of conviction and thorough analysis in investing. Investors can learn from Jhunjhunwala's approach, focusing on long-term potential rather than short-term market sentiments.
Key takeaways
- Category: Corporate Action.
- AI reads the tone as positive (potentially bullish) for the stock.
Why it matters
A routine update. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
