Big Bull Rakesh Jhunjhunwala is followed by millions of stock market investors. His advice proves to be great tips for investors. Jhunjhunwala advised investors that the market is the only king, you can never dominate it. Markets are always volatile and mysterious.
Jhunjhunwala said, “If I were a developer, I would not have listed. It is not a suitable business for listing. Blue-chip companies get a high return on capital of 18-25%, but now realty is blowing up capital.”
However, billionaire investor Jhunjhunwala said that he is very bullish on real estate as it is going to be a huge asset class in itself. RIET is a great source of investment for middle-class people.
Speaking on his new venture Akasa Air, Jhunjhunwala said that he has a business and game plan along with the fact that aviation will grow in a big way in the future. He added that Akasa has already received deliveries of a quarter of the fleet the size of IndiGo.
Backed by some influential aviation giants, Akasa has hired around 50 employees for back-office tasks and is now recruiting pilots, flight attendants, and airport staff.
The founding team of Akasa has a long history of running the airline. Dubey is a veteran of Delta Air Lines Inc., which also operated Jet Airways in 2019. He briefly headed the Wadia Group's no-frills carrier Go Airlines India Ltd and laid the groundwork for the initial share sell-off for the budget airline.
Akasa, run by SNV Aviation Pvt., is also backed by Aditya Ghosh, who led IndiGo for nearly a decade and once took the startup to the top spot in the country. With this, it eventually captured more than 50% of the market. Akasa will begin flying internationally by the summer of 2023. Akasa Air has placed an order for 72 Boeing 737 MAX aircraft.
Jhunjhunwala has also said that he is very bullish about the warehousing sector in India. “Storage is still at an early stage in the country and warehousing will be required, as a lot of companies no longer want to pass on the responsibility of warehousing to logistics groups.
Another industry veteran, Deepak Parekh, speaking at the event said, “The Indian real estate market is on an upward trend and residential housing continues to be the leader in the segment. The HDFC chairman said that, unlike many other western countries, the demand for housing in India is from genuine home buyers and is not speculative.
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