Ace investor Rakesh Jhunjhunwala is confident about a Modi victory in 2019 elections. He is betting on these two Tata firms in the coming years.
Even as market pundits try to decode the reaction of Sensex and Nifty to political uncertainties, ace investor Rakesh Jhunjhunwala is confident on PM Modi winning the 2019 elections. In an interview to ET Now, Rakesh Jhunjhunwala said that the stock markets are currently bearish about the BJP’s prospects.
“I personally feel we are far more bearish about the BJP prospects than the actual reality…I would want that Mr Modi comes back. This election is going to be fought on personalities. I can write and give you one thing, BJP will form government, with most likely Mr Modi at the helm,” he told the channel.
Decoding the reaction of stocks markets during the past elections, Rakesh Jhunjhunwala noted that when the BJP lost during India shining, the Sensex was at 6,500, and it was 25,000 within that 4 years. “When later the Congress won by 209 seats, the Nifty went up by 40% in 2 days, and after that it never went down. India is greater than individuals,” he pointed out.
In the same interview, the big bull of Dalal Street said that the Tsunami of inflows into the stock markets, especially through mutual funds will continue. “Look at the way the savings will grow. If India has to be a $10 trillion economy by 2030, savings will be $3 trillion a year. Even if 10% of that comes to the stock market, the share market will be at $300 billion. I want to point out that 32% of household wealth in US is now equity,” he said.
Rakesh Jhunjhunwala then shared his love for the Tata Enterprise and exuded confidence in N Chandrasekaran’s abilities to take the behemoth to greater heights. “Those who built the Tata Enterprise, Sir Ratan Tata, and Sir Jamsetji Tata, they willed their wealth to charity. They have a very big cancer hospital in Bombay, and every child is examined by them. If they feel they can cure it, they provide free treatment.
The first steel plant, first 5-star hotel and first software company, first power plant, first car manufacturing plant, the Indian Institute of Sciences. Tata enterprise is a role model of what is wealth. They are creating wealth for the good of society. What nobler aim can a human have?” he said.
So where exactly is he seeing value creation in the Tata Enterprise. “In the next 5-10 years Tata Steel and Tata Communication can do well,” he said. According to the investment maestro, 18-24% in the stock market is reasonable returns. “It’s not that I’m a great and well known investor so I make 30%, it doesn’t work that way,” he said.
Rakesh Jhunjhunwala also advised investors to buy jewellery to tide through difficult times. “It’s very important to buy jewellery. Our ancestors have told to put 3-4% and I don’t even have a quarter percent. I know of many friends who have gotten past 5 years by selling jewellery,” he said.
Source: financialexpress.com
Even as market pundits try to decode the reaction of Sensex and Nifty to political uncertainties, ace investor Rakesh Jhunjhunwala is confident on PM Modi winning the 2019 elections. In an interview to ET Now, Rakesh Jhunjhunwala said that the stock markets are currently bearish about the BJP’s prospects.
“I personally feel we are far more bearish about the BJP prospects than the actual reality…I would want that Mr Modi comes back. This election is going to be fought on personalities. I can write and give you one thing, BJP will form government, with most likely Mr Modi at the helm,” he told the channel.
Decoding the reaction of stocks markets during the past elections, Rakesh Jhunjhunwala noted that when the BJP lost during India shining, the Sensex was at 6,500, and it was 25,000 within that 4 years. “When later the Congress won by 209 seats, the Nifty went up by 40% in 2 days, and after that it never went down. India is greater than individuals,” he pointed out.
In the same interview, the big bull of Dalal Street said that the Tsunami of inflows into the stock markets, especially through mutual funds will continue. “Look at the way the savings will grow. If India has to be a $10 trillion economy by 2030, savings will be $3 trillion a year. Even if 10% of that comes to the stock market, the share market will be at $300 billion. I want to point out that 32% of household wealth in US is now equity,” he said.
Rakesh Jhunjhunwala then shared his love for the Tata Enterprise and exuded confidence in N Chandrasekaran’s abilities to take the behemoth to greater heights. “Those who built the Tata Enterprise, Sir Ratan Tata, and Sir Jamsetji Tata, they willed their wealth to charity. They have a very big cancer hospital in Bombay, and every child is examined by them. If they feel they can cure it, they provide free treatment.
The first steel plant, first 5-star hotel and first software company, first power plant, first car manufacturing plant, the Indian Institute of Sciences. Tata enterprise is a role model of what is wealth. They are creating wealth for the good of society. What nobler aim can a human have?” he said.
So where exactly is he seeing value creation in the Tata Enterprise. “In the next 5-10 years Tata Steel and Tata Communication can do well,” he said. According to the investment maestro, 18-24% in the stock market is reasonable returns. “It’s not that I’m a great and well known investor so I make 30%, it doesn’t work that way,” he said.
Rakesh Jhunjhunwala also advised investors to buy jewellery to tide through difficult times. “It’s very important to buy jewellery. Our ancestors have told to put 3-4% and I don’t even have a quarter percent. I know of many friends who have gotten past 5 years by selling jewellery,” he said.
Source: financialexpress.com
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