Jhunjhunwala predicted Sensex would cross 50k
Rakesh Jhunjhunwala is one of the market's Big Boys with Midas touch in markets. He had predicted in October 2007 that BSE sensex would cross 50,000 mark in 6-7 years if the current profit growth is sustained.
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Mumbai: Rakesh Jhunjhunwala is one of the market's Big Boys with Midas touch in markets. He had predicted in October 2007 that BSE sensex would cross 50,000 mark in 6-7 years if the current profit growth is sustained.
He has also said that India will grow at 10 per cent before 2010. He forecasted that the India-centric sectors such as telecom, banking and infrastructure will continue to remain hot. Jhunjhunwala felt that education is a great business to be in.
With regard to household money coming to markets he said, "In 1992, 17 per cent of domestic savings went into the stock markets. In 2004, it fell to 1 per cent. And I feel 15 per cent of domestic savings will go into the stock market by 2011. So $45-50 billion of local money is what we are talking about", he told DNA newspaper in a interview at that time.
