On the day the Sensex breached the 60,000 mark, India's ace investor and Dalal Street veteran Rakesh Jhunjhunwala revealed that Tata Motors has been his largest investment in the past 15 months, adding that he has made two investments in new-age digital businesses including gaming and sports media platform Nazara Technologies. Speaking exclusively with Business Today TV's Udayan Mukherjee, the billionaire market maven said Tata Motors' foray into the electric vehicles segment will boost the stock going ahead.
Watch: Udayan Mukherjee speaks to Rakesh Jhunjhunwala "One of the largest investments in my life is in Tata Motors, which I have done in the last 15 months," said Jhunjhunwala. "Tata Motors is going to lead the electric vehicle market not only in India, but also in the developing world. They are already leading and will be making affordable electric vehicles", he said, adding "I am an interested party, so take everything I say with a pinch of salt." Jhunjhunwala says he remains "very bullish" about the future of the Indian markets. "We are just at the threshold of what I think is going to be one of the largest bull runs in India ever. India is changing and many people are investing in the change", he added.
Also Read: Tata Motors share falls as Rakesh Jhunjhunwala pares stake in June quarter Also known as the Warren Buffet of India, Rakesh Jhunjhunwala shed light on his investment in Nazara Technologies. He said that Nazara Tech was "cash positive" at the time of his investment in the company. Highlighting the importance of viewing cash generation as an important criterion while investing, Jhunjhunwala said that Zomato's valuation was not justified. Jhunjhunwala also gave his opinion on crypto currencies, saying that he believes no sovereign will ever let go off the power to issue currencies to any other entity. "Crypto can ever become a regular currency of exchange", he said.
Also Read: Nazara Technologies stock rises 5% after firm buys skill-based gaming platform OpenPlay