Congratulating CNBC-TV18 on it 15th birth anniversary, Rakesh Jhunjhunwala, partner at asset management firm Rare Enterprises, says Nifty has grown 10 times in last 15 years and can easily grow 10-12 times in the coming decade.
It has been 15 long years since CNBC-TV18 took its first steps. Eighteen Budgets and 80 Credit Policies later, the business channel looks back at the way Indian equity market has grown and analyses what can be expected in the next 15 years. Congratulating the channel at CNBC-TV18 investor summit, Rakesh Jhunjhunwala, partner at asset management firm Rare Enterprises, says Nifty has grown 10 times in last 15 years and can easily grow 10-12 times in the coming decade. Betting on India’s steady earnings growth at 16 percent, he sees Nifty hitting 1,30,000 by In 2030.
Continuing with his optimism, the billionaire — reports suggest he has made close to Rs 35 lakh every hour in the last 12 odd months —says India is sitting on the wings of change, courtesy the perfect instrument called Narendra Modi. The pace of change that Prime Minister Modi is set to bring about will be unprecedented. The Budget, in this context, will not be as important. The important fact is that India’s growth will far exceed that of China’s.
He says India’s economy ios prefectly balanced at the moment. He sees Modi’s Swachh Bharat programme has a far greater impact than we can envisage. Add to the fact are benefits like falling crude prices, which have not been fully passed on to the consumers. Jhunjhunwala is not at all pleased that RBI governor chose not to touch rates despite situation warranting quite the opposite. “Rajan will regret not cutting rates today.”
The ace investor rubbishes views that his recent accumulation of SpiceJet stock puts a stamp of credibility on the company. He believes Titan , a stock Jhunjhunwala has spoken several times previously, will continue to grow.