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The group chairman of electrical equipment maker Havells India, Qimat Rai Gupta, passed away today at 77.
Gupta who started Havells and transformed it to a multinational with operations across 51 countries was known for his entrepreneurial and never-say-die spirit, the company said in a statement.
Gupta recently also made it to the Forbes' billionaire list for the first time and was ranked India's 48th richest man with a net worth of $2 billion as of September 2014.
Shares of Havells India were trading at Rs 285.00 apiece in early trade today, down 1.55% over previous close on the BSE.
