Rakesh Jhunjhunwala says Nifty will hit 1,25,000 by 2030

Ace Investor Rakesh Jhunjhunwala has said benchmark Nifty can hit 1,25,000 by 2030 as company earnings are expected to grow 16% annually.

This target is almost 13 times the index's close of 8,537.65 on Tuesday.

Jhunjhunwala said the Nifty has grown 10 times in the last 15 years and can jump 10-12 times in the next decade but declined to give a target for 2015.

According to a report published in business news daily The Economic Times, the investor says the market will be surprised by the country's growth in the coming years with Narendra Modi at its helm.

On the RBI policy review held on December 2, 2014, Rakesh Jhunjhunwala said a year later, RBI governor Raghuram Rajan will regret not having cut rates because inflation will be 4% in India next year and we have had an unprecedented fall in oil prices.