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Lalit Nambiar says rupee may make few FIIs rethink their position on India

The rupee level may make few foreign investors rethink their position on India, said Lalit Nambiar of UTI Mutual Fund.

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By Prashant Nair   | Ekta Batra  August 14, 2018, 3:27:27 PM IST (Updated)

The rupee level may make few foreign investors rethink their position on India, said Lalit Nambiar of UTI Mutual Fund.



Nambiar said, "A lot of foreign selling has already happened and to that extent presumably there will not be so much more selling. However, a lot of the foreign institutional investors (FII) have lost money more on the rupee-dollar than on the intrinsic return in India."

"We have been maintaining for quite a bit of time that there are pockets in the market, where you can probably be safer in terms of margin of safety and there are other pockets, where things are look a little less attractive. So to that extent, what is playing out today is possibly our vulnerabilities, when it comes to rupee or run up to elections. Some of these things are playing out even while we have an earnings season, which has been benign as of now," Nambiar added.

"The markets as of now are focusing on what is likely to happen over the next 12 months and from that perspective, a lot of calculations have to be reset in terms of where the rupee is, where crude is, and I think that is what is perhaps preoccupying the market," he said.

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