Unlisted portfolio sent a higher return than listed: Rakesh Jhunjhunwala

Big Bull ‘Rakesh Jhunjunwala on Saturday said he had invested in private companies for the past 10 years, and that the return on his unregistered portfolio was more than that of listed companies.

Jhunjunwala, who is reportedly the largest investor in the domestic market, also said that the level of taxation in the financial markets was “reasonable” given the socio-economic conditions in the country.

“I am pleased to inform you that my return to the unregistered portfolio is greater than the return to the portfolio I have listed. I also have an investment for 10-12 years,” he said, speaking at the commemoration of the Jana Small Finance Bank’s commemoration.

“In a so-called unequal society, it is the new aspirants who create wealth. Please do not say that … India is a powerful capitalist. First-generation entrepreneurs from all over the world are creating wealth. That makes me as proud as India,” Jhunjunwala said.

The ace investor disagrees with the notion that easy money making is the only source of growth in the Indian stock market, saying that stock prices have risen over the past one year due to the inflation outlook.

Jhunjunwala said the performance of companies in the second and third quarters of this financial year is currently proving the strength of Indian payments.

He also pointed out that simple payment conditions in the US and other advanced economies would contribute 10 percent to the growth of domestic markets, but added that the most important reason for growth was the availability of Indian stocks.

Jhunjunwala went on to say that he was at the forefront of the affected areas such as infrastructure, itineraries and government lenders, and warned that companies with erroneous corporate management should be avoided.

Opportunity for business growth, business people, corporate governance structure, technological acceptance and corporate belief in holding things is a list of important things to consider before choosing an investment stock, Jhunjunwala said.

He said people who had done bad things such as not paying the bills even though they lived in expensive houses were the ones who should be afraid of the current situation in the country, where Prime Minister Narendra Modi had said private money would be respected.

He also said that market rates would continue to double every four to five years, adding that in the next 25 years, India’s per capita income would be higher than China’s after high economic growth.

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By the 2025-26 financial year, GDP growth in India will reach a two-digit level and save for the next two decades, he said.

Jhunjunwala also said that as economic growth grows exponentially, there is reason for the RBI not to raise prices due to concerns about inflation.

He also encouraged looking at retaliation for a consumer price basket, which weighs more than 50 percent of food, when prices are highly volatile.

With growing prosperity, food has ceased to be an important part of family expenses, he argued.

Speaking at the same event, Sunil Munjal of Hero Group said restoring the “spirit of faith and trust between government, industry and civil society organizations” is important in India as it aims for road growth.

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