Billionaire investor Rakesh Jhunjhunwala’s optimistic outlook on India’s consumption sector sent retail stocks soaring on Tuesday. Addressing chief executives from retail and consumer companies at the Confederation of Indian Industry’s retail & FMCG summit on Tuesday, Jhunjhunwala said retail stocks hadn’t done well over the past decade but he expected this year to be different, as higher income levels would ensure better growth for these companies.
(Source: Business Standard)