“We are in the middle of a bull phase which will last for a very, very long time,” Jhunjhunwala said in an interview earlier this month.
Rich valuations and rising concern that the Fed may soon begin winding down its stimulus have done nothing to shake the confidence of the investor, who has in the past said his strategy of picking stocks early in a growth cycle is inspired by U.S.
Only two events would be significant enough to make him wary about India’s prospects, he said.
The Nifty 50 index has risen 12% so far in 2021, outperforming the MSCI Asia Pacific Index by about eight percentage points.
Jhunjhunwala, 60, developed a childhood fascination for stocks by watching his father, a retired tax commissioner, juggle market investments, he said in an interview with Bloomberg News in 2005.
New money will only fuel further gains in key indexes, Jhunjhunwala said, with a large photo of the BSE Ltd., Asia’s oldest bourse, visible in the background.
A custom index of the billionaire investor’s top 20 stock holdings as of end-March has rallied about 85% over the past year, according to exchange data on shareholdings compiled by Bloomberg.
that derives its title from the first two letters of his name and that of his wife, Rekha Jhunjhunwala.
Crisil is now at around 2,882 rupees, and Jhunjhunwala, along with his wife, owned about 5.5% as of March-end, data compiled by Bloomberg show.
The Securities and Exchange Board of India was created in the aftermath of the scandal, and millions of millennials have since roared in as retail investors.