Indian businessman Rakesh Jhunjhunwala says investors in India are still in disbelief about the recent stocks rally, and reiterated that the market has just seen a “the birth of a classic bull market.” “There is only worry and a lot of disbelief in the market. We have gone through the classical birth of a bull market where there is a sharp fall, sharp recovery, and everybody is dumb founded, therefore no one believes in the rise. India is on the verge of a secular, structural bull market. This bull market is not only going to be about the stock market but about India. People are going to be surprised at the way India’s growth is going to recover, and how it is going to sustain and further recover.” he stated.
Rakesh Jhunjhunwala speaking to ET Now stated that he sees huge opportunities in hotel and infrastructure. On being asked on value investments, he says that all these stocks will gain in the second phase of the bull market. He identified that public sector does not have a proper disinvestment policy by the government. Ownership is the primary reason for discontent in the public sector. He further stated that commodities are on the path of recovery.