Jhunjhunwala’s comments come as local shares have continued to climb despite a deadly wave of the coronavirus that hurt the real economy, rendering people jobless and denting consumption.
MUMBAI: Annual equity returns from Indian stocks will be about five percentage points on top of the economic growth of 7% to 10% in the coming years, according to billionaire investor Rakesh Jhunjhunwala.
Known locally as India’s Warren Buffett due to his penchant for equity investing, Jhunjhunwala is counting on the nation’s potential for long-term growth and political stability to fuel further gains in the US$3 trillion (RM12.50 trillion) stock market that’s already been hitting record after record this year.
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