The mother of all bull run in the stock market is still ahead as India is yet to see stellar growth, big bull Rakesh Jhunjhunwala said. The country may see the highest growth ever in the upcoming decade leading 2030, he also told ET Now. Adding, the ace investor also said that he thinks the ongoing consumption slowdown is temporary, as there can t be a major slowdown in India for an extended period of time, he also said. The veteran investor also said that he expects a lot of investments to pour into the stock market.
The people s verdict is vote for continuity and death of crony capitalism, the ace investor told CNBC TV18 in an interview. The Big Bull as he is popularly known also said that the likely majority for BJP-led NDA proves that casteism is ending while nationalism is coming to the fore. “The government will focus on economic growth, growth is panacea for all economic ills,” Jhunjhunwala also told the TV news channel. Adding, he said the Modi government has to improve ease of doing business and if the growth takes place, the investments will follow.
The new government would place a lot of emphasis on the building infrastructure, the veteran investor said. On the running NBFC crisis, Rakesh Jhunjhunwala said that the government needs to act if there is a systemic risk in the sector. Even though democracy slows things down, democracy is needed, he added. The new government would be realist and not socialist or capitalist.
The stock market veteran Rakesh Jhunjhunwala recently had said that the Sensex and Nifty surged to fresh record highs after exit polls indicated an easy victory for PM Narendra Modi-led NDA government. The stock market veteran Rakesh Jhunjhunwala said that the NDA could win up to 300 seats. He had also said that if NDA clinched a clear majority, 10,750 to 11,000 would be the bottom for stock markets.
Meanwhile, the 30- share Sensex on Thursday crossed the 40,000 mark for the first time ever tracking the trends on the day of vote count. The investor wealth zoomed Rs 2.87 lakh crore in morning trade Thursday.