Rakesh Jhunjhunwala says Modi will win 2019 Lok Sabha election; bets on these two Tata group firms

Even as market pundits try to decode the reaction of Sensex and Nifty to political uncertainties, ace investor Rakesh Jhunjhunwala is confident on PM Modi winning the 2019 elections. In an interview to ET Now, Rakesh Jhunjhunwala said that the stock markets are currently bearish about the BJP’s prospects. “I personally feel we are far more bearish about the BJP prospects than the actual reality…I would want that Mr Modi comes back. This election is going to be fought on personalities. I can write and give you one thing, BJP will form government, with most likely Mr Modi at the helm,” he told the channel.

Decoding the reaction of stocks markets during the past elections, Rakesh Jhunjhunwala noted that when the BJP lost during India shining, the Sensex was at 6,500, and it was 25,000 within that 4 years. “When later the Congress won by 209 seats, the Nifty went up by 40% in 2 days, and after that it never went down. India is greater than individuals,” he pointed out.

In the same interview, the big bull of Dalal Street said that the Tsunami of inflows into the stock markets, especially through mutual funds will continue. “Look at the way the savings will grow. If India has to be a $10 trillion economy by 2030, savings will be $3 trillion a year. Even if 10% of that comes to the stock market, the share market will be at $300 billion. I want to point out that 32% of household wealth in US is now equity,” he said.