Ramesh Damani confident of market growth despite geopolitical tensions
Investor Ramesh Damani on Monday said that despite the geo-political tensions, he remained very confident that the market will give compounded its traditional rate of return about 15-16 per cent a year
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New Delhi: Investor Ramesh Damani on Monday said that despite the geo-political tensions, he remained very confident that the market will give compounded its traditional rate of return about 15-16 per cent a year.
Speaking at the sidelines of the ‘NDTV World Summit 2024’ Damani said that due to geopolitical events, markets may get more volatile but it doesn’t affect its growth. “It is not a reason to feel pessimistic, because that is just the nature of the piece. I think it will start compounding its traditional rate of return about 15-16 per cent a year. Bull markets typically climb all worries, unless something crazy happens like from Iran bad for markets. Currently market discounted present geopolitical tensions,” he added.
Damani said that India is outperforming all emerging and 3Ds (Democracy, Digitalisation and Demographics) are driving India’s GDP growth. Apart from this, he said that India is building a very good digital public infrastructure for the public. “We’re building a country together, leaving a better country for a generation,” he said.
On the recent public enterprises stock (PSB) rally, Damani said: “I think you have to give full credit to Prime Minister (Narendra) Modi for building that vision out for the country and for the value that he’s created by selling the public sector stocks and by raising the value of corporate governance in those stocks.”
