Here’s why Rakesh Jhunjhunwala is betting big on Tata Motors

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Rakesh Jhunjhunwala wants to play the history of electric vehicles in India with Tata Motors. “The biggest and best electric car player in India will be Tata Motors. I am a shareholder and only play EV’s story with Tata Motors,” the ace investor said in an interview with CNBC International TV .

Dalal Street’s “big bull” further sees the personalization of electric cars as the way forward for established automotive players in India.

Asked whether India is “ready for EVs”, Jhunjhunwala said, “India is ready like any developing country”. He further added that the pace of the EV transition will be faster in the years to come.

Speaking on bitcoin, Jhunjhunwala said he would never invest in cryptocurrency and added that it should be banned.

“I won’t buy Bitcoin even for $ 5. In the world, only the sovereign has the right to create money. The dollar movement of 1 to 2% is news but here the fluctuation is 10 to 15% in a day, hence the speculation is highest. I don’t want to join all the parties in town. You should go to the party you like. I will never buy Bitcoin in my life. Cryptocurrencies should be banned, ”he said.

“Only the sovereign has the right to create money in the world,” he added.

Rakesh Jhunjhunwala also predicted that Nifty would hit 90,000-100,000 by 2030. “India will surprise on the upside. I can’t tell you the depth or direction as it depends on so many factors,” he said. -he declares.

“India is on a roll and the stock market will be on a roll,” Jhunjhunwala added.

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