Jhunjhunwala said there is no capitalism or socialism in the country but ‘realism’ Budget 2022: Highlights NEW DELHI: Ace investor Rakesh Jhunjhunwala on Wednesday said he expects the crypto market to collapse, but that won’t impact the equity market in a big way.
In an interview with ETNOW, the Big Bull said the investor class of equities and cryptocurrencies is completely different from each other and cryptos will collapse one day.
At present, what we are seeing is a meltdown in hyped value stocks and not IT, he said, adding that it is highly unlikely that Nifty50 will go below the 15,000 mark.
The bull market, Jhunjhunwala said, has just reached Charni Road from Station, “there is long way to go”.
Jhunjhunwala said 2022 will be a year of positive, not flat returns, as he foresees healthy growth in corporate profits.
The Union Budget 2022 , he said, was a bold political statement of choosing growth and fiscal prudence over populist measures.
Nifty unlikely to fall below 15K; cryptos will collapse one day: Rakesh Jhunjhunwala Ace investor Rakesh Jhunjhunwala on Wednesday said he expects the crypto market to collapse, but that won’t impact the equity market in a big way.In an interview with ETNOW, the Big Bull said the investor class of equities and cryptocurrencies is completely different from each other and cryptos will collapse one day.
“Whatever the Modi government is doing is towards long-term sustenance and not short-term gains.There is no capitalism or socialism in the country but ‘realism’.”
The Big Bull said the government is focusing on improving the private sector investment.”Growth is the most important thing, and is in the benefit of all Indians.It is only with growth that you can have greater social welfare and job creation,” he said.
Jhunjhunwala said tax collections are likely to be far higher than what is estimated at present.The ace investor does not expect rising consumption to spur inflation.
India, he said, is still not a big consumer of commodities.
The Big Bull said the ease of doing business is improving and that PLI will be a big hit.India is dreaming of a 10 per cent growth, which is possible.
“What I feel is that the market is prepared for inflation.” Market, Jhunjhnwala said, should watch out for divestment timeline at the end of Covid-19.
The ace investor said he has a liking for infrastructure, metals and hospitality stocks and said the rerating in PSU stocks have just started.
India’s premium valuation will retain until corporate earnings reach 8 per cent of the GDP, he said.
PSU banks will outperform private sector banks by a wide margin going ahead, he added.
Jhunjhunwala said he is disappointed with his judgment on the choice of pharma companies.He said he is staring at an India like never before, as the percentage of investment coming into financial assets will go up dramatically.
The Big Bull said he is still bullish on Tata Group of companies, and is searching for the next Tata group company, which is on the verge of transformation.”I am very excited about vehicle space when it comes to Tata Motors,” he said, adding that Tata Motors is becoming the biggest global player.
In case of Tata Steel, Jhunjhunwala said the company’s Ebitda is more than that of the cement industry’s as a whole.
The Big Bull said he is hopeful that the worst is behind for the health insurance sector.He believes the aggressive increase in hospital costs will aid the health insurance sector.
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