Veteran investor Madhusudan Kela of MK Ventures said that the stock market is not a means to make income, but a "means to create wealth." While speaking with CNBC-Awaaz for its show 'Get Rich', Kela delved into his past and shared how he went on to make ₹1 crore in the first year itself from the stock market.
He shared that when he entered the market in 1992, he was earning ₹12,000 salary at that time, which was more than that of his batchmates.
"For me, the stock market was a medium to have a better living because if I would have gone somewhere else, I wouldn't have received that much money... In 1992, when I got into the market, I was earning ₹12,000 at that time too. None of my batchmates had that much salary," he said.
"So, I got to understand that the stock market is a place where I will get good money, better than working for a manufacturing company or corporate finance. I was fortunate enough to have earned a lot of money in the first year itself," he added.
He said that later he went on to join Motilal Oswal and was lucky enough to have earned ₹1 crore in the first year itself.
"Then I joined Motilal Oswal as a working partner. In the first year itself, we made ₹3 crore. We were one-third partners in it, so we got ₹1 crore... At that time I was fully convinced and even 0.5% doubt that I had in mind was gone," he added.
#GetRich | #AwaazPodcast | #MadhusudanKela ने 1993 में कैसे बनाया था '1 करोड़ ' ?देखिए Get Rich में Anuj Singhal की खास बातचीत दिग्गज निवेशक Madhusudan Kela के साथWatch Full Podcast : https://t.co/zcc5w7zaPY@_anujsinghal @MadhusudanKela pic.twitter.com/a2htA50doM
— CNBC-AWAAZ (@CNBC_Awaaz) March 7, 2024
Noting that people should do a lot of research and in-depth analysis before investing, Kela said that the stock market is "not a means to make income, but a means to create wealth."
In a career spanning around three decades, Kela has become one of the most eminent and seasoned investors in the Indian stock market industry. During 2021-22, he acquired 83.66% of the paid-up equity share capital of MK Ventures via an open offer.
(Edited by : Ajay Vaishnav)
First Published: Mar 8, 2024 3:53 PM IST
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