Nikhil Kamath, co-founder of brokerage firm Zerodha, believes that there is a lot of potential in the Indian market in the long term. His statement has come at a time when the Indian stock market has been witnessing a continuous rise for the last 6 weeks. BSE Sensex crossed the 70,000 mark for the first time on Monday. Both Sensex and Nifty closed at their all-time highs. Along with this, the interest of retail investors has also increased significantly in the market.
Nikhil Kamat, while speaking with an English news channel, said, “India is probably one of the most expensive markets in the world. It is very difficult to predict when Nifty will go to 25,000, but I would suggest when things get expensive. So be cautious; don't buy too much.”
He said that even though the cost of capital may be high in the short-term, there is a lot of potential in the long term. Nikhil Kamat said, “But if we look at the period of next 10 to 20 years, it looks quite good for India.”
Before Nikhil, his brother and second co-founder of Zerodhi, Nithin Kamath, had also said something similar. Nitin had said that India is the future and foreign investors also know this very well. This is the reason why he is showing interest in investing money in the businesses here.
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Nikhil wrote on his social media platform a few days ago that he is noticing a strange “contradiction” between his Indian and American acquaintances these days. He said, “All the rich Americans I know want to invest money in India. They see it as a country that is the future. But for some reason this thing has still stuck among young Indians. It has happened, they have to go to America to build their future.”
Recently both the brothers were also in the headlines regarding their salary. During the financial year 2023, Kamat brothers took Rs 72-72 crore as salary from Zerodha. This information was obtained from the documents submitted to the Corporate Affairs Ministry. With this, both of them have become the highest paid CEOs and directors in the startup industry.
