Rakesh Jhunjhunwalas close aide spells out Big Bull’s advise now

Every time market fell sharply till about 18 months ago, retail investors would take comfort in the words of India’s Big Bull Rakesh Jhunjhunwala, whose optimism and confidence in India and Indian market seemed unshakable. His close aide and chief investment officer of Alchemy Capital, Hiren Ved, said in an exclusive interview with Moneycontrol: "He would have said, be careful of what you buy now but certainly don't sell.” Besides, he would have said, "The best way to buy a bull market is to stay committed to it." Ved is one of the close aides of Rakesh Jhunjhunwala who was the original investors in Alchemy Capital, originally promoted by Lashit Sanghavi and Ashwin Kedia.

The firm was started in 1996 and Ved joined the company in 1999. Outguessing the Big Bull on his take on current markets, Ved said, he might say: "You can't get on and off the horse, you have to stay on the horse. The horse might not be galloping but throttling. As long as it is throttling in the right direction and once in a while it gallops in the right direction, one has to stay on the horse," said Ved. Ved said, staying the course was the Jhunjhunwala’s consistent advise to him and other investors. In the last one year, Nifty 50 has gained 23 percent while the Senex has gained 19 percent in the same period. Nifty 50 forward PE is at 20.05x while Nifty 50 ten-year average PE is at 20.08x.