Rakesh Jhunjhunwala on Stock Market: Veteran investor Rakesh Jhunjhunwala says that the domestic stock market has now recovered from the coronavirus epidemic. The reforms the government has done in the past, are showing better results. The confidence of foreign investors is increasing with respect to the market. A tsunami of capital flows will occur in the Indian stock market in the coming days. Jhunjhunwala said these things in an interview given to CNBC-TV18. He is also very positive about the economy. According to him, India’s growth is expected to be in double-digit in the next 5 years.
Government reforms benefit
Rakesh Jhunjhunwala has praised the recent reforms undertaken by the central government. He says that the government is doing well in the matter of reforms. Due to the reform, there will be a tsunami of capital flow in the stock market in the coming days. He says that reforms in India are not so easy. Even after that, the government has handled it better, while many reforms were opposed by the opposition. He said that I hope the government will do a strategic sale of PSU companies.
Concerns about the market plummeted 80%
Rakesh Jhunjhunwala said that I was 80 per cent less than what I was worried about in the market in June 2020. In fact, the pace of government reforms has increased since June. He says that the manufacturing and service sector will grow further in India. Less than what was feared in July, the default has been in the banking sector. There is no pressure on banking due to corporates.
Foreign investors trust
Rakesh Jhunjhunwala says that the confidence of foreign investors has increased on the domestic stock market. They have been net buyers since April. This will help India to achieve double-digit growth in the next 5 years.
The market has recovered from Covid 19
Rakesh Jhunjhunwala says that the Indian stock market has now fully recovered from the effects of the Corona epidemic. Now Diwali rally is being seen in the market. Although the earning season was not very good, the economic data was also not as expected, but the market has benefited from the increase in foreign investment.