In an exclusive interview with ET NOW, Jhunjhunwala said history will remember Tesla’s Elon Musk as a true entrepreneur. “But the shareholders would decide Telsa’s market capitalization, not Elon Musk,” he said.

“This m-cap may not last, I can tell you that. But that doesn’t take away from Mr. Musk’s entrepreneurial abilities and performance,” he said.

Regarding internet companies, Jhunjhunwala said he is not a fan of them, as he does not like paying a lot of money for companies that have perceived large markets and good positioning in those markets, but little or no of cash flow.

“You put a lot of the future in the present. Uber, after its public broadcast, has never gone away. Internet companies are not my favorite. But people made money, good luck to them. “, did he declare.

Jhunjhunwala said that the expansion of PE has occurred in Indian large caps and a large part of the market has the opportunity to increase both PE and profits. He said Nifty can deliver double-digit returns over the next 8-10 years.

“I would be disappointed if Indian stocks didn’t deliver high returns for teens over the next decade,” he said.

Jhunjhunwala said he has no major investment in PSUs except SBI and Canara Bank. He said the improvement in profitability of PSU banks will be much higher.

He said that as an investor he would choose PSBs and small private banks because the delta is higher there.

“Any bank that can collect deposits will become powerful and have the capacity to lend,” Jhunjhunwala said.

Jhunjhunwala said investors always underestimate the capacity of the Tata group. He said he has been extremely optimistic about the group since N Chandra took over. “The focus on the consumer and cash flow will last forever. In my opinion, the greatest growth will come from Tata Motors,” he said.

Fighting for reforms, the Big Bull said it had solid faith in the government‘s reform campaign. India is tackling Covid in impressive ways, he said.

“Prime Minister Modi realizes the importance of economic reforms, understands that without them you cannot increase the size of the cake to distribute. He is a distilled socialist,” Jhunjhunwala said.

Jhunjhunwala said the first signs of economic recovery are very positive. Skills and democracy make societies, he said.

“Indians are the most skilled people in the world. New promises of reform and firmness from the government will lead to this decade owned by India,” he said.

The Big Bull said that the more India opened up its economy, the more prosperous it would become. “India will overtake China in the next 25 years,” he said.

Jhunjhunwala said crude prices will remain at $ 60-70 a barrel and the recent spike in oil prices is a temporary phenomenon due to the deep freeze in the United States.