Veteran investor Rakesh Jhunjhunwala of RARE Enterprises believes that India is beautifully placed to register double digit growth over the next four to five years. In conversation with CNBC-TV18, the billionaire said that the market was on the verge of a major bull run which started when the Nifty hit a low of 7,500 in 2020.
Jhunjhunwala said, "I think India is beautifully placed to register double digit growth in the next four to five years. I anticipate that despite the second COVID surge we are going to have double digit real growth in this year."
He elaborated, "India is on the verge of a very big bull run, which started from the day the market made the bottom in 2020 when Nifty was at 7,500 [points]."
He expects the most battered stocks in midcaps and smallcaps to give the biggest returns. Jhunjhunwala has invested heavily in the metals space.
"I think there is going to be a big upturn in the Indian economy. Look at the divergence between the valuation of cement stocks and metal stocks and look at the prospects of metal stocks, I think there is a great opportunity there. I am a large investor in metal stocks. The most battered stocks in the midcaps and the smallcaps are going to give the biggest returns."
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