Rakesh Jhunjhunwala says Confident About Aviation Sector; Bullish on PSU Banks, Hospitals
Rakesh Jhunjhunwala says Confident About Aviation Sector; Bullish on PSU Banks, Hospitals
In a recent interview, Big Bull Rakesh Jhunjhunwala said that he continues to remain bullish on domestic stock markets. Know what are the sectors the ace investor is betting big on

In a recent interview, Big Bull Rakesh Jhunjhunwala said that he continues to remain bullish on domestic stock markets even as Dalal Street, along with global peers, faces multiple headwinds. “I think the (domestic) stock markets will grow regardless of global developments,” Rakesh Jhunjhunwala told CNBC-TV18. He also added that the pace at which Dalal Street will grow will be a tad bit slower.

Big Bull Bullish on PSU Banks & Hospitals

Talking about the sectors he is bullish about, Jhunjhunwala said that PSU banks are his bet. “PSU Bank, PSU Bank, and PSU Banks are all that I’m very bullish on,” he said. Explaining his rationale behind the same, Jhunjhunwala said that he thinks credit will rise, and the consequence of that will be an increase in the pricing power of banks. “PSU banks have great power of gathering deposits,” he added.

Financial stocks such as Canara Bank, Federal Bank, and Karur Vysya Bank are a part of his portfolio.

Another sector that could do well going forward is the Healthcare Sector, Big Bull said that he is also bullish on the hospital sector. “Health is a very important element and if health insurance goes up then hospital utilisation will go up and it is difficult to run hospitals. I’m very bullish on hospital space,” he added.

Besides being the promotor of Star Health and Allied Insurance Company, he also owns a 4.2 per cent stake in Fortis Healthcare, according to trendlyn.com data.

Telecom Sector – Not a Good Bet

However, the ace investor feels that the telecom sector is not a very good sector to invest in. He said, “I don’t think the telecom sector is a very good sector to invest, in because it constantly requires investment. So, therefore, there are no true cash flows, there is no true cash generation,” he explained.

As Akasa Air Takes to the Skies

Jhunjhunwala, who has entered the aviation industry recently, is the promotor of Akasa Air. He told CNBC-TV18 that the airline would be competitive, and would adhere to the principle of staying frugal in its operations.

Jhunjhunwala said he was very confident in the aviation sector, adding there would be a lot more flights and India would see 14 crore passengers flying to swell to 40 crores in the coming future. Explaining his bet on India’s Aviation sector, Juhnjhunwala said that India will need 2.5 times the aircraft it has now as passengers grow from 14 crore now to 40 crore in the next four years, a prediction made by the Civil Aviation minister. “I feel very confident about the Indian aviation story,” the market veteran quipped.

Akasa Air received its air operator certificate from the Directorate General of Civil Aviation (DGCA) on July 7 and operated its first flight recently which was virtually flagged by Aviation Minister Jyotiraditya Scindia.

While speaking during the ceremony on Sunday, Jhunjhunwala said that “Nowhere in the world has an airline been conceived and born in 12 months,” he said. “Normally, a child is born in nine months, we took 12 months. It would not have been possible without the cooperation of the Ministry of Civil Aviation.”

Read the Latest News and Breaking News here

What's your reaction?

Comments

https://kapitoshka.info/assets/images/user-avatar-s.jpg

0 comment

Write the first comment for this!