Big Bull of the stock market and Rakesh Jhunjhunwala, the country’s largest domestic investor, said that unlisted companies in his portfolio have given him higher returns than companies listed on the stock market. Jhunjhunwala said that he had invested in these unlisted companies, ie companies which are not listed in the stock market, 10 to 12 years ago.
Rakesh Jhunjhunwala said at an event organized to commemorate the anniversary of Jana Small Finance Company, I am happy to tell that the unlisted companies in which I made long term investments, I have been listed by companies in the stock market. Has given far more returns than my investment in. He said that given the socio-economic status of India, the tax imposed on the equity market is justified.
Rakesh Jhunjhunwala said that new aspirants like Unequal Society like India are making money. Therefore it is wrong to say that there is crony capitalism in India. He said that First Generation entrepreneurs who come from a very diverse and middle class background are earning money. It makes me proud to be an Indian.
Jhunjhunwala denied that the stock market has risen since the second half of 2020 due to the sufficient liquidity available in the market. He said, it would be wrong to say that only due to sufficient liquidity the stock market has gained momentum. This boom in the stock market has come due to earnings potential of companies. The proof of this is the tremendous benefit the companies had in the September and December quarters.
Bullish on these stocks
Rakesh Jhunjhunwala said that he is bullish on infrastructure, cyclicals, PSU banks along with metals and commodities. Rakesh Jhunjhunwala said that in the coming times, there will be a tremendous bull run in commodities in the Indian domestic market, which will last for a long time ie at least 5-7-7.
The benchmark index will double every 4 to 5 years
Rakesh Jhunjhunwala said that the benchmark index in the stock market will double every 4 to 5 years for the next 25 years. Also, India’s per capita income will exceed China. He also hoped that India’s GDP will grow in double digit in the year 2025-26 and this Momentum will continue for the next 2 decades.
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