Indira Gandhi Institutionalized Corruption
It is no secret that Rakesh Jhunjhunwala, the Badshah of Dalal Street, does not have a high opinion about the Congress party or its leaders.
On an earlier occasion, the Badshah had slammed Indira Gandhi, the late Prime Minister, for “institutionalizing corruption“.
“I feel it was unfortunate that we had Mrs Gandhi as the prime minister. She institutionalized corruption. Till Shastriji, corruption was looked down upon as a taint, as a blame. She institutionalised it more than that she nationalized our banks, insurance and the coal industry,” the Badshah thundered, his eyes blazing in fury.
"I feel its unfortunate that we had Indira Gandhi as PM because she institutionalised corruption, nationalised banks, insurance & coal. Govt opened up coal last week, sure that there will be political will to privatise PSBs," Rakesh Jhunjhunwala on banking sector crisis in India pic.twitter.com/8H3NAs2bRe
— ET NOW (@ETNOWlive) February 22, 2018
According to the Badshah’s logic, many of the woes that the Country is presently facing, including the colossal waste of resources in the PSU sector, are attributable to the flawed policies of Indira Gandhi and the Congress party.
NAMO is doing his best to unravel the mess though it is an uphill task given the size and scale involved.
“They butchered Air India so badly that it cannot be revived,” the Badshah lamented.
I came across this chart. 3.85 Lakh Crs!! Total mkt cap of all PSBs is about 5 Lkh Crs. What a waste of money. Other than @TheOfficialSBI we shld privatise all PSB. Govts shld govern and not run PE portfolios. #ReformSuggestion. @dmuthuk @pujamehra @sonaliranade @Swamy39 pic.twitter.com/NUtH9Jl4VD
— S. Rajiv Krishna (@RajivKrishnaS) September 14, 2019
Basically, with PSUs badly run,their market-share has collapsed … see BSNL, Air India & PSU banks to know this. So while @narendramodi & gullible voters feel their PSUs are still around, we have stealth privatisation — pvt sector market share rising — and HUGE loss in value ?
— Sunil Jain (@thesuniljain) September 9, 2019
The consolidation will help create strong and globally competitive banks with economies of scale and enable realisation of wide-ranging synergies, says Finance Secretary. https://t.co/oYHtqnmCVM
— BloombergQuint (@BloombergQuint) September 9, 2019
The land bank of PSU banks is worth about Rs 75,000 crore. Land sales won't happen without bank mergers. There will be synergies extracted, corporate HQs consolidated. Then India is ready to privatize some of the merged banks. https://t.co/L6W3Neob4R
— Rajeev Mantri (@RMantri) September 12, 2019
Rahul Gandhi is a “Pappu“. I don’t want him as Prime Minister
In his latest interview with Sreeneevasan Jain of NDTV, Rakesh Jhunjhunwala was at his blistering best.
The Badshah praised NAMO to the skies for having delivered big-ticket decisions such as the repeal of Article 370.
He also complimented NAMO for the “Ujjwala scheme” which empowers lakhs of women with smoke-less LPG cylinders.
NAMO’s ‘Nal Me Jal’ scheme made the Badshah emotional.
“If I die tomorrow, I will die as a happy man. 40 per cent of diseases in India are water-borne. This scheme will immensely benefit Indians,” he said.
At the same time, the Badshah tore Rahul Gandhi and the Congress party apart.
“I don’t want Pappu to be my Prime Minister. I support the BJP so I don’t want him as the Prime Minister,” he declared in a contemptuous tone.
“I don’t want Pappu to be my Prime Minister”: Investor Rakesh Jhunjhunwala says PM Modi has performed very wellhttps://t.co/NjnB2yG5l3
— OpIndia.com (@OpIndia_com) September 13, 2019
I saw the interview… Normally don't watch NDTV… Scrolled into NDTV on my mobile and suddenly saw Jhunjhunwala calling Rahul Pappu on NDTV… The embarrassed look on @SreenivasanJain 's was priceless.. Gotta hand it to Sreenivasan though.. He carried on.. ????
— Romni???️ (@Romni99) September 14, 2019
@SreenivasanJain well tried sreeni. But sad u cud not push ur hypocrites agenda of portraying negative India image or BJP. Well done Rakesh Jhunjhunwala. @BJP4India @majorgauravarya @ndtv @TimesNow @CNNIBNLive pic.twitter.com/52oSsXEAYT
— VJ (@vijayjamwal2016) September 12, 2019
Watch how India's warren buffet 'Mr. Rakesh Jhunjhunwala' lambasted Srinivasan Jain of NDTV of portraying only negitavity of this current NDA govt. https://t.co/4yQoPxeUA4
— Pawan Verma (@pawanverma30) September 13, 2019
This interview hands down the best at NDTV… Never saw ndtv guy jumping from 1 question to another the avoid the replies!!! The way Rakesh Jhunjhunwala butchered srini and luk on his face when he said I don't want pappu as PM! He was speechless!!!
— Priyanka Mudgil (@pareeyam) September 14, 2019
Markets have bottomed out, time to buy
Anyway, from our point of view in Dalal Street, what is most important is Rakesh Jhunjhunwala’s assertion that the correction has worked itself out and that the markets have bottomed.
“Slowdown not as bad as made out to be … pessimism in the market is overdone … Stock markets have bottomed out,” the Badshah said in a soothing tone.
#ExecutiveDecision | “Stock markets have bottomed out”: India's ace investor Rakesh Jhunjhunwala tells NDTV.
— NDTV (@ndtv) September 12, 2019
'Slowdown not as bad as made out to be'.
— Sreenivasan Jain (@SreenivasanJain) September 14, 2019
Speaking exclusively to ET Now, Big Bull Rakesh Jhunjhunwala says pessimism in the market is overdone and the 10,500-10,750 level in the Nifty would act as a floor.https://t.co/AK0O9lwGbe
— TIMES NOW (@TimesNow) August 26, 2019
— ETMarkets (@ETMarkets) September 12, 2019
Gist of RJ : See Nifty bottom b/w 10500-10750, great time to smart buying midcap stocks, good that Govt has communicated, should sacrifice 30-50bps fisc in favor of growth, low rates here to stay, pessimism is overdone in the market. https://t.co/CCRUePfxXb
— Ajaya Sharma (@Ajaya_buddy) August 26, 2019
Stocks are surging, already up 40%+ in just 2 months
We ought to have dived in at the depth of the crisis and grabbed small-cap and mid-cap stocks right, left and center.
In July 2019, the midcap and smallcap stocks had plunged to a five-year low, giving a god-sent buying opportunity.
Is the time ripe to pick up good quality Mid-cap #stocks??
Nifty Midcaps Relative Valuations Vs Nifty 50 Has Corrected Back To 2014 Lows. pic.twitter.com/2B6RaVjw0o
— Geetu Moza (@Geetu_Moza) July 3, 2019
Smallcap & MidCap Indices have seen a sharp correction from peak
*Midcap Index -13%
*Smallcap Index -21%
— Nigel D'Souza (@Nigel__DSouza) June 24, 2019
Since then, there has been a dramatic recovery.
According to data collated by Nigel D’Souza, the Midcap Index is up 4.7% while the Smallcap Index is up a whopping 7.1% in just the last few weeks.
Select stocks are up 40%+.
Big Buying In Mid & Small Cap Stocks | The midcap and the small cap indices have pulled back from recent lows; Morgan Stanley recently added midcaps in their model portfolio. @Nigel__Dsouza is here to take us through the big buzzers pic.twitter.com/0MxmKnSCos
— CNBC-TV18 News (@CNBCTV18News) September 13, 2019
Recovery in small and midcap stocks from recent low pic.twitter.com/G5D9lw8JYc
— Jayesh Khilnani (@jayeshkhilnani) September 12, 2019
It is obvious that we cannot sit on our haunches any longer. After Rakesh Jhunjhunwala’s assertion that the markets have bottomed, we have to immediately head out to Dalal Street and grab high-quality stocks and/or ETFs ASAP!