Indian bank rescue may lure foreign equity investors
Industry observers say the plan should inspire confidence in trade, industry and investors
Mumbai
INDIAN Equities, already among the top performers in Asia this year, may start drawing back foreigners after the government announced a US$32 billion rescue for state-owned banks weighed down by bad loans.
"Foreign investors will view this very positively," said Sageraj Bariya vice-president of sales at East India Securities. The plan "should inspire confidence in trade, industry and investors". Overseas investors so far in October have sold a net US$1 billion of Indian stocks, cutting their 2017 investment by 20 per …
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