The current year is looking more tougher for the market, Atul Suri of Rare Enterprises said adding that 7900-8000 will be the most crucial levels for the market. If 7900 breaks, Nifty could test levels of 7500.
As on September 2016 shareholding pattern, Rakesh Jhunjhunwala held 5 percent stake and his wife Rekha Jhunjhunwala held 4.76 percent in the company.
India may soon get into the level of outperformance and the sectors that will lead the charts are consumer, FMCG and auto, says Atul Suri of Rare Enterprises, in an interview to CNBC-TV18.
You might anticipate six months later that Netherland or Germany also say why the hell are we hanging out with these no hopers and we want to get out as well, says Rakesh Jhunjhunwala of RARE Enterprises
There is going to be U-shaped recovery. The depth and pace of it will be difficult to predict, said ace investor Rakesh Jhunjhunwala. There is no need to assume that Rajan is the only man who can continue policy initiatives and the RBI is an institution, he said.
With Nifty rising 17 percent and Bank Nifty falling 30 percent, banking has become one of the best opportunities to play from a long-term perspective in Indian market, says Atul Suri, Trader, Rare Enterprises.
Rakesh Jhunjhunwala, Partner at Rare Enterprises, said markets have been looking up of late. But they have mellowed somewhat from the time Narendra Modi took over as the prime minister.
Watch the interview of Atul Suri, trader at Rare Enterprises with Mangalam Maloo on CNBC-TV18‘s new show Weekender in which he discussed overcoming fears of scuba diving, transition from being a fundamental to a technical analyst and his take on investing.
Shares of Jet Airways soared 8 percent intraday on Monday after it got itself a new maverick investor. Ace investor Rakesh Jhunjhunwala purchased 1.05 percent stake in the airline company for Rs 50.52 crore through an open market transaction. Jet Airways had gained 11 percent on Friday.
Rare Enterprises bought 1,195,000 shares of Jet Airways at Rs 422.76 on the NSE.
According to the bulk deals data available with NSE, Jhunjhunwala's RARE Enterprises acquired 11,95,000 shares or 1.05 percent stake in the private airline. The shares were bought at an average price of Rs 422.76, valuing the transaction at Rs 50.52 crore.
If he had to choose between his daughter and Warren Buffet to spend a weekend, no prizes for guessing what this whizkid of Dalal Street will do.
Rakesh Jhunjhunwala of Rare Enterprises launches an app.
The bigger game is going to be in companies/sectors that have come out with some set of decent numbers, Says Atul Suri and counts IT and Pharma among rewarding plays.
According to Atul Suri, pharma companies are set for a three-five year bull run. He also expects big move in PSU banks going ahead.
Congratulating CNBC-TV18 on it 15th birth anniversary, Rakesh Jhunjhunwala, partner at asset management firm Rare Enterprises, says Nifty has grown 10 times in last 15 years and can easily grow further 10-12 times in the coming decade.
According to Atul Suri, trader at Rare Enterprises, IT space is going to be an outperformer.
Atul Suri of Rare Enterprises said that sectorally IT is a great space to be in. â€œI think the largecap IT is doing very well.
He is also bullish on pharma and autos and expects them to do well among midcaps.
As per BSE data, Rare Enterprises purchased the company's shares at an average price of Rs 71.25 apiece, valuing the transaction at Rs 10.69 crore.
Rare Enterprises has bought the company's scrips on an average price of Rs 71.25 apiece, valuing the transaction at Rs 10.69 crore, as per bulk deal data available with BSE.
The thing that everyone is talking about this month is the market, it has been a huge move and at the back of all that comes this whole concept of what the technicals have been upto. So this week‘s episode is a technical analysis Classroom.
Rakesh Jhunjhunwala of Rare Enterprises is bullish on Tata Motors and Escorts.
Rakesh Jhunjhunwala of Rare Enterprises says that he has full confidence in Titan Industries' long-term prospects.
On April 25, Rare Enterprises bought 50 lakh shares of Alok Industries at Rs 10.24 on the NSE.