This is verbal transcript of Rakesh Jhunjhunwala's recent TV interview. Posting here as some of you may prefer reading rather than watching the video. Video is available in above link.
It has been said by Ace investor Rakesh Jhunjhunwala with a conviction that India growth story is the most sustainable story and it can''t be reversed and with the time it is being more and more proved and recognized. He continued to say that the agriculture and agricultural products are his new area of interest in the current market.
He further said that there is no doubt about the fact that money is going to come into the Indian markets from both the local as well as from the foreign fronts. Speaking about the concerns looming over the euro zone growth prospects and its impact on the world economy, he commented that the problems are for real and says that the fact remains that there are large deficits and they have to be handled carefully. The growth is certainly going to be below par.
Adding further he said that the silver lining out of the euro zone crisis is that the bottom of this economic dip will start once the public accepts and the government realizes that they can''t spend themselves out to prosperity.
He believes that nothing more worst is going to happen to Europe or the US in the next 12-18 months and the worldwide growth will be good this year and also feels that the Europe growth concern is unlikely to have any impact on the Indian markets.
Talking about the recent Ambani truce pact, he said it is a good thing that the family is coming together, adding to it further he said that both the brothers are smart enough to protect their own interests.
He again expressed confidence in sectors that promote India''s growth story like infrastructure or banking that are on his favorites, but for now the new area of interest is agriculture and agricultural products. He believes that anything that is serving agriculture is going to do very well.
Expressing his view point he said that he was staying away from telecom stocks for some time because of huge 3G payments and consolidation that is yet to happen in this sector. He also said that he was also not bullish on real estate stocks however he feels that the infrastructure sector is relatively good.
Checkout entire Rakesh Jhunjhunwala Portfolio - Holdings As on Sept. 2009
