Ace investor Rakesh Jhunjhunwala advised bollywood actress Kareena Kapoor Khan to invest in stock market in order to save taxes and grow her wealth.
Ace investor Rakesh Jhunjhunwala advised bollywood actress Kareena Kapoor Khan to invest in stock market in order to save taxes and grow her wealth. When Kareena Kapoor expressed concerns and asked whether stock market is a place filled with manipulation, as shown in bollywood film Bazaar, Jhunjhunwala said that the script of that film was humbug. “Remember one thing, the stock market is a requirement of this country. And just as in any field, there are manipulators and there are good people. It is a place where people have to put their savings and it is a medium by which money goes from savers to users,” Rakesh Jhunjhunwala told Kareena Kapoor Khan in an interview aired on ET Now on the occasion of Diwali.
Rakesh Jhunjhunwala advised the leading actress that investing money in stock market could help to save taxes. The stock market is like a woman, always commanding and always mischievous and always uncertain, always volatile, always exciting, he said. “I will personally advise you that you should invest a good amount of your money in the stock market. When Kareena Kapoor asked for some stock tips, Jhunjhunwala advised her to seek professional advice. “Actually you need professional expertise for that. But tax-wise it is very advantageous because on stock market income, the tax is much lower,” he said in the interview.
Amid the ongoing slowdown, Rakesh Jhunjhunwala is confident that the current phase of weakness soon would pass. Even as the situation is not as bad as some of the people are making out, the government should take steps to remove fear in the business community, the market veteran Rakesh Jhunjhunwala told CNBC TV-18 in a recent interview. There is a need to revive animal spirits in the economy for the investment and exports to pick up, he added. On private capital expenditure, he said that it would improve as the consumption picks up, which is expected to happen soon.