Rakesh Jhunjhunwala advised caution ahead of Lok-Sabha elections

Rakesh Kumar Radheyshyam Jhunjhunwala is an Indian Billionaire Investor and Trader. He is a Chartered Accountant. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Jhunjhunwala has been described by India Today magazine as the “pin-up boy of the current bull run”[4] and by The Economic Times as “Pied Piper of Indian bourses”.  As per Forbes, he is the 54th richest person in India, with a net worth of USD 3 billion (as of June 1, 2018)

Source: https://en.wikipedia.org/wiki/Rakesh_Jhunjhunwala

mutual fund in jaipur
Dr. Ramesh Maloo With Mr. Rakesh Jhunjhunwala

 Rakesh Jhunjhunwala, one among India’s biggest securities market investors, suggested caution before Lok Sabha elections when he aforesaid that the ruling government is probably going to come back to power.

He was speaking on each day once the market hit new highs with a touch over a month to go before election results. He was a part of a word marking the launch of the most recent entrant within the mutual fund business — the Sun Pharmaceutical Industries co-promoter Sudhir Valia-backed ITI mutual fund. Others on the panel were Ramesh Damani, member, Bombay securities market (BSE); Nimesh monarch, administrator and chief officer at ICICI prudent quality Management Company; and martyr Heber Joseph, chief officer and chief investment officer at ITI mutual fund.

Both the benchmark indices closed at incomparable highs on Tuesday — the S&P BSE Sensex closed at 39,275.64 whereas the National Stock Exchange’s Nifty 50 terminated at eleven,787.15.

“Today may be a new high within the market however all the bars are empty!” said Jhunjhunwala, suggesting that the market has been driven higher by many stocks, instead of seeing a broad-based rally. However, he remained optimistic on expectations of a pickup within the capex cycle and aforesaid that the section of the dangerous loan crisis has passed.

Jhunjunwala aforesaid he expects the ruling National Democratic Alliance (NDA) to come back to power at the Centre. He adscititious that the Bharatiya Janata Party (BJP) may not win a single-party majority within the Lok Sabha. However, he expects the ruling party to be a dominant partner within the new government.

Ramesh Damani suggested investors against positioning themselves on the understanding of a specific party returning to power. He aforesaid markets have had a nasty record in predicting election outcomes, and investors ought to use caution of being too assured a few given outcome.

“I think the market is pricing another comfortable majority for the NDA, which may not happen,” he said.

Nimesh monarch aforesaid sure government-owned firms with smart returns on equity and banks with {a smart|an honest|a decent} liability franchise look good. He was additionally optimistic about pharmaceutical and care segments.

George Heber Joseph, chief officer and chief investment officer at ITI mutual fund, too was optimistic on the company and care phase, declaring that the share of the case for these segments is probably going to extend.

Jhunjhunwala additionally measured another note of caution on the character of the most recent bull-run. He aforesaid it’s didn’t profit the bulk of individuals, that may lead to the imposition of taxes for redistribution.

Source: https://www.business-standard.com/article/elections/rakesh-jhunjhunwala-still-sees-an-nda-government-but-advises-caution-119041700321_1.html

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