Long & Short of Markets: Why is Rakesh Jhunjhunwala averse to investing in startups?

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NEW DELHI: Inflation is a double-edged sword. It’s an engine of growth but at the same time, a swing back can hurt real bad. The living example of that can be witnessed in the surging commodity prices. Primarily, the rally in prices started with supply disruption and consumption revival, but now it’s circling back to hurt the very demand if the trend continues. Read more on China’s intervention to stifle inflation, macro lessons from Rakesh Jhunjhunwala and why he stays away from startups, grey market’s value dilemma and more in this week’s edition of ‘Long & Short of Markets’.

Street goes defensive on metal
Brokerages and analysts have gone cautious on commodity stocks with a few even going for rating downgrades. As China is hell bent on curbing inflation in metal prices, analysts are worried that with China’s move, metal prices will see a capped upside globally as analysts also fear a shrinking supply-demand mismatch.
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Macro gyaan
Just like how a boom emerges after every bust, Rakesh Jhunjhunwala is betting on a double-digit growth rate for India in the next two decades. The Big Bull also explains why he stays away from investing in startups.
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Grey market loses true ‘value’
Primary market is supposed to be a place where stock prices reflect the true value of businesses. With back to back blockbuster IPOs in recent times, everybody wants to get their hands on these stocks early before they hit the secondary market. Big fishes such as HNIs and institutional investors are bloating these stock prices as the illiquid market is facing a severe supply-demand mismatch.
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IT matters
Despite a considerable run-up in their prices, IT stocks are yet to see an earnings upgrade, says Manishi Raychaudhuri of BNP Paribas. On deal wins, he says it is just the beginning. In this interview, the market expert talks about value picks in two other sectors as well.
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Cryptos go the SGB way
Sovereign gold bond’s third tranche will open for subscription this week, giving investors a chance to earn interest on the yellow metal besides hopes of capital appreciation in the years to come. Now investors have a similar opportunity to earn interest on their cryptocurrencies. ZebPay, one of India’s largest cryptocurrency exchanges, is going to allow investors to lend their cryptocurrencies for interest.
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