MUMBAI (Reuters) – The rupee rose on Tuesday, snapping three sessions of losses, as rumoured inflows related to a corporate deal helped offset dollar demand for defence-related purchases.

Dealers cited heavy dollar selling by a clutch of foreign banks which they said was likely related to Qatar’s purchase of a 5 percent stake in Indian telecoms company Bharti Airtel Ltd (BRTI.NS: Quote, Profile, Research) for $1.26 billion.

MUMBAI, May 7 (Reuters) – The Indian rupee rose on Tuesday,
snapping three sessions of losses, as rumoured inflows related
to a corporate deal helped offset dollar demand for
defence-related purchases.

Dealers cited heavy dollar selling by a clutch of foreign
banks which they said was likely related to Qatar’s purchase of
a 5 percent stake in Indian telecoms company Bharti Airtel Ltd
for $1.26 billion.

MUMBAI (Reuters) – The rupee fell to its lowest in nearly a week on Monday on continued dollar demand from state-run banks, likely related to the government’s defence purchases.

The fall in the currency comes on the back of Friday’s weakness after the central bank disappointed markets with a hawkish tone at its annual monetary policy, despite delivering a widely expected 25-basis-point rate cut.

MUMBAI, May 6 (Reuters) – The Indian rupee fell to its
lowest in nearly a week on Monday on continued dollar demand
from state-run banks, likely related to the government’s defence
purchases.

The fall in the currency comes on the back of Friday’s
weakness after the central bank disappointed markets with a
hawkish tone at its annual monetary policy, despite delivering a
widely expected 25-basis-point rate cut.

MUMBAI, May 3 (Reuters) – Indian federal bond yields rose on
Friday after the central bank warned it had limited room for
further monetary easing while delivering a 25 basis point cut in
the key lending rate in line with expectations.

The Reserve Bank of India also reduced the amount of bonds
that banks can hold till maturity while leaving the cash reserve
ratio unchanged, disappointing bankers.

MUMBAI, May 2 (Reuters) – India’s move this week to slash
tax on interest income that foreigners pay on local bonds, its
most significant measure to boost the debt market in recent
years, could draw several billion dollars in investment and
provide support for the rupee.

Foreign investors have long complained about the high tax
they pay on their earnings on Indian debt. Other Asian countries
like Singapore and Malaysia charge little or no such tax.

MUMBAI, April 30 (Reuters) – Indian bond yields fell on
Tuesday after the government said it would cut tax on interest
income earned on debt by foreigners, a move that is expected to
spur demand from overseas investors.

New Delhi will cut the tax on interest payments to
foreigners on government and corporate debt to 5 percent from up
to 20 percent for a two-year period, in a bid to draw further
inflows to bridge its current account deficit and polish its
reformist credentials.

MUMBAI, April 29 (Reuters) – Indian federal bond yields rose
on Monday as dealers kept positions light on caution ahead of
the central bank’s rate decision on Friday and on resumption of
supply.

The Reserve Bank of India is widely expected to lower its
key benchmark repo rate by 25 basis points for the third time
this year, but dealers are closely watching if the central bank
signals further monetary easing after recent falls in global
commodity prices.

MUMBAI (Reuters) – Indian hedge fund manager Kalpesh Kinariwala is so sure of his equity strategies in a country that has stumped foreign rivals that he sends a daily e-mail tracker of his performance – including to competitors.

Kinariwala’s Capveda Capital (India) Advisory fund, which he runs from a modest office in a decrepit industrial estate in Mumbai, has returned 11.86 percent so far this year, outperforming average negative returns of 2 percent from India-focused foreign hedge funds.

MUMBAI, April 29 (Reuters) – Indian hedge fund manager
Kalpesh Kinariwala is so sure of his equity strategies in a
country that has stumped foreign rivals that he sends a daily
e-mail tracker of his performance – including to competitors.

Kinariwala’s Capveda Capital (India) Advisory fund, which he
runs from a modest office in a decrepit industrial estate in
Mumbai, has returned 11.86 percent so far this year,
outperforming average negative returns of 2 percent from
India-focused foreign hedge funds.