Rakesh Jhunjhunwala, known as the Big Bull of the Indian stock market, passed away on Sunday morning in Mumbai. He had turned 62 last month. Breach Candy hospital, where he was taken to, told CNBC-TV18 he was suffering from kidney disease and ischemic heart disease and died due to cardiac arrest.

Security was beefed up at the hospital and residence as his family and friends, including the big names of the investment community, gathered there to pay tributes. Jhunjhunwala was later taken to his residence.

While ace investors such as Ramesh Damani, Raamdeo Agarwal, and Vallabh Bhansali visited the family at the hospital, other corporate heads took to Twitter to remember the market veteran.

Bhansali, who has known Jhunjhunwala for 35-40 years, called him the Pied Piper of the stock market. "RJ made an immense contribution to the Indian stock market. He wanted everyone to be successful. He truly had a large heart. Once he met someone, he always wanted to do something for them. RJ always supported (his wife) Rekha," he said.

Bhansali added that doctors were fond of him and while he was getting treated, they all wished that he should have taken better care of his health.

Tata Sons Chairman N Chandrasekaran said Rakesh 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. His passing is an irreparable loss, and we extend our deep condolences to his family and friends," he said.

Titan was one of Jhunjhunwala's key stocks. He had lately turned a bill on many Tata companies, including Indian Hotels and Tata Chemicals.

Remembering when he invested in Titan, Nilesh Shah, MD & CEO of Envision Capital, said: "My most memorable discussion was: Nilesh, have you looked at Titan? Take it. You and your family will remember me for life." Shah said Jhunjhunwala could cut across all age groups and didn't care about the background. "His demise is a huge dent to me," Shah, who had known Jhunjhunwala for 20 years, said.

Mark Mathews, head of research, Asia Pacific, Bank Julius Baer & Co, said:

"RJ proved that you can make a lot of money by staying invested in the right companies. He bought a lot of integrity to corporate governance."

Uday Kotak, who was Jhunjhunwala's school and college friend, said he had an amazingly sharp understanding of financial markets.

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!

— Uday Kotak (@udaykotak) August 14, 2022

Anil Agarwal, chairman of Vedanta Resources, said Jhunjhunwala will always be remembered as the man who popularised public understanding of the stock market.

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