Rakesh Jhunjhunwala, the largest individual investor in domestic markets, said on Saturday that he has invested in private companies for more than a decade, but the benefit he has gained from investing in non-listed companies is listed. There is more than profit from companies. Jhunjhunwala is called Big Bull (Bada Tejadiya). He also said that given the socio-economic conditions in the country, the level of taxation on equity markets is ‘justified’.
“I am happy that my income on the unlisted portfolio is more than what I get on my listed portfolio,” he said at an event to mark the anniversary of Jan Small Finance. I have 10-12 years long investments there too. “Jhunjhunwala said,” In this so-called unequal society, new aspirants are earning money. Please do not say that… India is capitalism with nepotism. First-generation entrepreneurs with no heritage are earning money. It makes me proud as an Indian. ”
Jhunjhunwala said that the performance of the corporate sector in the second and third quarter of the current financial year is a proof of the earning potential of Indian companies.
He said that easy liquidity conditions in the US and other developed economies may have contributed 10 per cent to the growth of domestic markets, but the most important factor is the ability of Indian stocks to earn income. Addressing the same program, Sunil Munjal of Hero Group said, “Restoring the feeling of trust and confidence between government, industry and civil society” is essential in India as we are aiming for high growth.
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