New Delhi: Indian stock market investors keenly follow the footsteps of Rakesh Jhunjhunwala, the stock market veteran who is also known as the big bull. The return on his investments in firms such as Titan is one of the most sought after investments in Dalal Street. He also runs his own asset management firm Rare Enterprises.
In recent interviews, Jhunjhunwala revealed that he is currently bullish on Indian PSU bank stocks, besides other shares trading on India’s indices. Here are the stocks on which Jhunjhunwala is currently bullish:
1. State Bank Of India
In an interview with MoneyControl, Jhunjhunwala said that he has invested in PSU Banks such as SBI. He said that he thinks traditionally credit growth to GDP in India is 1.25-1.50.
“Very well run, they have Yono. If someone wants to borrow Rs 5,000 crore, whom is he going to go to? Doing very well in retail space, their subsidiaries are doing well. Nobody can match their distribution for retail, mutual fund,” he told the media publication while sharing why he is bullish on the state-owned bank.
2. Canara Bank
Besides the SBI, Jhunjhunwala is betting on another PSU Bank: Canara Bank. He reportedly said that “these banks are fully provided in their provisioning and they have deposit gathering ability, adding to credit growth prospects.”
3. Tata Steel
According to Rakesh Jhunjhunwala, several commodity stocks have a bright future. He said that the commodities cycle is here and will last for a minimum of 5 years. Tata Steel is one of the commodity stocks on which Jhunjhunwala apparently has a buy tag.
4. Jindal Steel and Power
Another commodity stock in which Jhunjhunwala has invested is Jindal Steel and Power. “Potential of the commodity stocks is yet to be realised on their stock performance,” Jhunjhunwala told MoneyControl.
5. Lupin Limited
Most of the investors are currently bullish on healthcare and pharma stocks amid the ongoing Covid-19 pandemic. Rakesh Jhunjhunwala recently picked up a stake in Lupin Limited.