Hat tip: Sunil Jain
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Biggest Risk in India is political
Hat tip: Sunil Jain
Category: Interview
The most interesting part of this interview is the revelation that Rakesh Jhunjhunwala did not sell his core portfolio stocks in 2008 even when he was v bearish on the markets
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Nilesh Shah on Fixed Deposits
When I started my career, bank deposits used to give 16-18 percent.
Then it fell to 13-15 percent, thereafter it fell to 9-10 percent.
Today they are available at 7-8 percent.
I have no doubt that 3-5 years down the line, bank fixed deposit rates could be 4-5 percent.
But will you be happy with 4-5 percent returns?
-said Nilesh Shah,MD Kotak Mahindra AMC
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Why money is flowing into equities
Everybody thinks that interest rate will go down from here onwards or at best remain- at current levels.
There is low probability that government securities will touch 9%. But reasonably high probability that either it is going to remain like this or maybe marginally come down.
Tax free bonds are at 6.5%.
Unless there is a crisis globally, gold doesn’t go up.
One year bank fixed deposits are also not going up because credit is not picking up.
The mind is still anchored to 8%.
Then you have properties which is not giving you any return for very long time now.
If you have money where do you invest is the question?
And which is why this flow is happening into equities
–said Anup Bagchi, MD, ICICI Securities
Question: Are you interested in..because I know sometimes you do unlisted equities….have you put money in some ‘fintech players’?
Raamdeo Agrawal: No, not fintech players but we just exited form AU Financiers, Jaipur. We bought at Rs 50-60 crore valuation, we put Rs 20 crore, which gave us 30- 35 percent. That was 6 years back. We sold it for Rs 5,000 crore..100x..
-from Bloomberg