​​​
  1. Rakesh Jhunjhunwala sees GDP growing 10-11% if Modi elected again; says Nifty may double in 4-5 years

Rakesh Jhunjhunwala sees GDP growing 10-11% if Modi elected again; says Nifty may double in 4-5 years

Market 'Big Bull' Rakesh Jhunjhunwala is bullish on Prime Minister Narendra Modi and believes that India's GDP would grow at an annual rate of 10-11 percent if Modi is elected to a second term.

By: | Published: May 19, 2017 12:32 PM
“The kind of change that Mr Modi is bringing is 2-3 years away & then you will have that explosive 10-11% growth,” Rakesh Jhunjhunwala said in an interview to CNBC TV18.

Market ‘Big Bull’ Rakesh Jhunjhunwala is bullish on Prime Minister Narendra Modi and believes that India’s GDP would grow at an annual rate of 10-11 percent if Modi is elected to a second term in 2019. Jhunjhunwala said that India is set for an explosive double digit growth in next 2-3 years adding that India’s growth will be stronger & more stable than China’s.

“The kind of change that Mr Modi is bringing is 2-3 years away & then you will have that explosive 10-11% growth,” Jhunjhunwala said in an interview to CNBC TV18.

“I don’t think the Indian economy has seen such a sunny time where you have stable interest rates, good currency value, you’re on the threshold of major growth,” Jhunjhunwala said.

Jhunjhunwala as always is bullish on Indian markets and believes that the Nifty can double in next 4-5 years due to an increased inflow of funds from domestic investors. In the last three years of Prime Minister Narendra Modi’ government, markets have touched new record highs, with the BSE Sensex returning 27.10% since May 2014, while the Nifty has given a return of 32.25%.

“I have always believed that India will clock double-digit growth with a tsunami of local money. That’s why I have kept all my money in equities. The bull market will really eclipse when there is a valuation froth, commitment froth & bad news. We are far, far, far away from that,” Jhunjhunwala added.

On the matter of recent corrections in the markets, Jhunjhunwala said that just like a runner, markets also need rest and they would become healthier after a correction.

“Bull market corrections are sharp, severe & short-lived. Even if the market were to correct a little, it would become healthier,” Jhunjhunwala said.

On the matter of rising bank NPAs and the stress that is building in the banking industry due to this, Jhunjhunwala believes that the NPA issue will be resolved in 4-6 quarters. However, in the same breath, he said that public sector banks need to be more open in lending and should stop being shy (in lending) as they are now.

“Banks which are efficiently run, which have adequate capital, I think will be out of the woods in 12-18 months,” Jhunjhunwala said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top