Homemarket News

COVID-19 pandemic has been blown out of proportion: Rakesh Jhunjhunwala

COVID-19 pandemic has been blown out of proportion: Rakesh Jhunjhunwala

COVID-19 pandemic has been blown out of proportion: Rakesh Jhunjhunwala
Profile image

By CNBCTV18.com Jun 1, 2020 1:34 PM IST (Updated)

"Lockdown was absolutely necessary, but we have blown COVID-19 out of proportion," Jhunjhunwala said.

Ace investor Rakesh Jhunjhunwala said that the COVID-19 pandemic has been blown out of proportion and a fear psychosis has been created over it.

Recommended Articles

View All

"The lockdown was absolutely necessary but we have blown COVID-19 out of proportion," Jhunjhunwala said in an exclusive interview to CNBC-TV18.
He added that COVID-19 is highly infectious as well as tough for the old and people with co-morbidities. However, he added that for the rest, COVID-19 is "after all, just like a flu."
The investor further said that lockdown was the right response to help create medical facilities but added that India now has to look ahead to open the economy with precautions.
India is the world's seventh worst-hit nation with nearly 2 lakh cases and more than 5,000 deaths.
The pandemic-induced lockdown has also ravaged the economy but Jhunjhunwala maintained that he remains overall bullish on the stock market, even as he expressed frustration over the lack of progress on land and labour reforms.
"From being an eternal bull, I have become a hopeful bull," he said.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng