rakesh jhunjhunwala

India poised for best decade in growth, says Rakesh Jhunjhunwala

India poised for best decade in growth, says Rakesh Jhunjhunwal

rakesh jhunjhunwala
Rakesh Jhunjhunwala

Big Bull Rakesh Jhunjhunwala says India will outpace the growth record past decade over the next 10 years, powered by the fruits of GST, demonetisation and other big economic reforms.

He also expects huge growth in capital expenditure and foreign investment in the coming decade.

In an interaction with ETNow, the ace stock picker said the worst effects of goods and services tax (GST) and demonetisation are behind us and it is now time to enjoy the good effects of these reforms,which will be reflected in the GDP going forward.

#Jhunjhunwala,pharmaceutical industry,Narendra Modi,rakesh jhunjhunwala,Hathway,Prime Minister of India

Jhunjhunwala said while some people think Prime Minister Narendra Modi did a crime by implementing reforms like note bam and GST, the real benefits of the same will start showing now.

“If you see the experience of other countries, they took five to seven years to stabilise, we have stabilized in a year. India is going to see one of the fastest rates of growth. I see more money coming into the market,” the ace investor said.

#Jhunjhunwala,pharmaceutical industry,Narendra Modi,rakesh jhunjhunwala,Hathway,Prime Minister of India

He said one should not lose sight of the fact that India is growing on a higher base. “We have reached a situation where discretionary expenditure is going to hit the roof. I think people believe in stocks but they do not believe in the economy,” he said.

Sharing his insights on the sustained flow of foreign institutional investment into domestic equities, Jhunjhunwala said he was surprised by the recent rally in stock markets globally.

#Jhunjhunwala,pharmaceutical industry,Narendra Modi,rakesh jhunjhunwala,Hathway,Prime Minister of India

Foreign institutional investors (FII) have poured over Rs 61,000 crore in Indian equities so far this year against an outflow of Rs 32,600 crore in 2018.
“We have to accept that low interest rates are here to stay and this acceptance has led to more money coming into equity, resulting higher PE. I think that is why emerging markets are in a much better situation in terms of currency and growth than they were ever in history,” he said

#Jhunjhunwala,pharmaceutical industry,Narendra Modi,rakesh jhunjhunwala,Hathway,Prime Minister of India

Jhunjhunwala is bullish on banks, pharma and infrastructure sectors. He expects select opportunities in public sector companies, considering their attractive valuations.
Sharing his insights on the pharma sector, he said, “The price erosion is behind us. Indian pharma market will tend to grow faster than it has grown. Pharma is not a market where demand can go down. You must know that 40-45 per cent of all medicines used in the US is made in India. I think it is a sunrise industry, it is not a sunset industry, it can never be a sunset industry.”

“In the next decade, the performance of Indian economy and the market will be far better. The last decade was partly a lost decade,” he said.

#Jhunjhunwala,pharmaceutical industry,Narendra Modi,rakesh jhunjhunwala,Hathway,Prime Minister of India

Jhunjhunwala on Tuesday said the poor have not benefited from the bull run in equities in the past four decades and “we need to stand guard against populist moves like wealth tax,” the investing veteran said.

He said the poor, who have missed out on personal growth opportunities, decide governments through their votes and the leaders they choose serve the core constituency.

Citing the example of the US, where one of the nominees of the next presidential race has promised to impose wealth tax, he said similar moves will be implemented across the world if the trend continues.

A PTI also quoted Jhunjhunwala as saying that another factor he is worried about is the possibility of a nuclear attack by Pakistan, adding there are enough rogue elements in that country who may not hesitate to use the N-button. source:economictimes.indiatimes.com
#Jhunjhunwala,pharmaceutical industry,Narendra Modi,rakesh jhunjhunwala,Hathway,Prime Minister of India

Leave a Reply

Your email address will not be published. Required fields are marked *

Click To Get Daily Stock