ACE Investor Rakesh Jhunjhunwala said India was in a long male market and retail investors had to invest at home and not in the US for a better return.
“Please do not invest in the US. When food at home is good, why eat outside. Believe in India. Invest fellow Indians and prosperous,” Jhunjhunwala said in an interview with CNBC-TV18 on June 21 on June 21 on June 21.
“Don’t try to set up too much market time. Where you see a good opportunity, good corporate governance and good judgment, jump and buy.”
One of the most successful investors in India, Jhunjhunwla said he was bullish in the Indian market because the economy would see healthy growth.
“The economy is in the take-off stage. We passed the NPA cycle and we experienced many changes such as Jan Dhan, IBC, Rera, reforms in mining laws, labor and agriculture. India is on a good threshold and long economic growth . Structural changes that occur in the Indian economy are coming, “Jhunjhunwala said.
The super commodity cycle has just begun and will be there for the next five-seven due to the increasing demand for infrastructure projects. “I am very bullish on metal stocks, both in the front of the income and at the front of the assessment. The company can see income from Rs 200-300 per share,” Jhunjhunwala said.
He also bullish in the PSU sector. “I basically put my money at the PSU Bank in the PSU sector but I think all the PSU sectors will do well,” he said.
Talking about the banking sector, Jhunjhunwala said, “I am very bullish in the bank and I am very bullish even in what is called an inefficient bank.”
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While Indonesia’s bank reserves and various institutions have cut the estimated economic growth of India after the second covid wave, veteran investors think otherwise.
“I see growth. I think we will have 14-15 percent GDP growth this year and there will be a request for money because of this kind of growth. I don’t see GDP growth less than 10-12 percent in India for the next four-five years and around That, “Jhunjhunwala said.
He is also positive in the pharmaceutical sector, because of the large domestic market and international demand. Realty sector will grow together with the economy, said Jhunjhunwala
