Rakesh Jhunjhunwala, a veteran investor called Warren Buffett of India, believes that soon there will be a strong return on commodity investment and there will be tremendous momentum for a few years. Rakesh Jhunjhunwala has a bullish stance on steel stocks. Speaking to MK Ventures founder Madhusudan Kela at the ‘India Economic Conclave 2021’, Jhunjhunwala said that the next 5-7 years will see a tremendous boom in the commodity.
Asked which stocks he is positive about in the coming times, he called PSU banks attractive for investment. According to Jhunjhunwala, his outlook on the banking sector is bullish and the most undervalued banks are stocks in the PSU space. He said that the demand for money is going to increase in the coming time and investors from public sector banks can get better returns. Apart from this, Jhunjhunwala said that disinvestment is a better opportunity for investment and investors should adopt a strategy to exit stocks as well as companies from the government.
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Great returns from banking stocks and disinvestment
- Banking stocks fell the most on 25 March due to heavy selling on Dalal Street. The Nifty PSU Bank index fell by 5 percent and the Nifty Metal Index fell by 1.56 percent. Jhunjhunwala has expressed the hope that by investing in PSU banks, his wealth can increase by five times.
- The central government is disinvesting in many companies. Jhunjhunwala praised the move and described it as a better opportunity for investors. He said that the company which is being disinvested by the government, investors should buy its stocks and should exit with the government as well. According to Jhunjhunwala, there will be a maturity period of at least 3-4 years after the completion of the disinvestment process, when the new owners will improve it.
Due to privatization and reforms, growth will remain in double digits
In response to a question about growth, Jhunjhunwala said that in the last 3-4 years, the government has made major reforms in the form of Jan Dhan Yojana and digitization and now the government is working towards facilitating and privatizing the start of business. is. In such a situation, Jhunjhunwala hoped that India’s growth rate could remain in double digits. Jhunjhunwala, called Dalal Street’s Big Bull, is considered a long-term investment in the stock market. Apart from Jhunjhunwala, Banana also believes that it is time for investors to take bold decisions for investment.