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☆ The Fed is set to cut rates this year. Here are the Asian currencies that stand to benefit
  + stars: | 2024-02-19 | by ( Shreyashi Sanyal | ) www.cnbc.com   time to read: +5 min
Brent Lewin | Bloomberg | Getty ImagesThe U.S. Federal Reserve is expected to cut interest rates later this year and, while that may not be good news for the dollar , some Asian currencies stand to benefit. Higher interest rates boost a country's currency, attracting foreign investment and increasing demand for the country's currency. A weak U.S. dollar is generally positive for emerging markets, which is often the case when the Fed cuts interest rates outside of an economic crisis. Experts told CNBC currencies such as the Chinese yuan , the Korean won and the Indian rupee stand to benefit from the Fed loosening monetary policy. So those are also positive for the Indian currency," said Anindya Banerjee, vice president of currency and derivatives research at Kotak Securities.
Persons: Mahatma Gandhi, Brent Lewin, Yuan, Arun Bharath, Bharath, Simon Harvey ​, ​, Anindya Banerjee, Banerjee, South Korea's, Monex's Harvey Organizations: Bloomberg, Getty, . Federal, CNBC, Korean, Bel Air Investment Advisors, People's Bank of, FX, U.S, Kotak Securities, Bank of, Korea's, South Locations: Bangkok, Thailand, China, People's Bank of China, U.S, Bank of India, India, Europe, America
☆ 'We are bullish on India': As Diwali begins, these 3 stocks are set to outperform, analysts say
  + stars: | 2023-11-13 | by ( Amala Balakrishner | ) www.cnbc.com   time to read: +3 min
A strong economy, growing population and booming stock market have put India on the map for many investors this year. It can lead to stock market moves, as some investors view it as a new beginning. "We are bullish on India for Samvat 2080," Kotak Securities' analysts wrote in a recent note. Financial services company Bank of India is also on Kotak Securities' buy-rated list following higher profit booking levels. The analysts give the stock a target price range of 120-130 Indian rupees, or upside potential of up to 26%.
Persons: Kotak, Naman Tandon Organizations: Securities, Kotak Securities, Bombay Burmah Trading, Financial, Bank of, Godrej Industries Locations: India, Bank of India
☆ Analysis: Harley-Davidson, Triumph in first gear of challenge to Royal Enfield's India reign
  + stars: | 2023-07-23 | by ( Indranil Sarkar Ajose Koilparambil | Indranil Sarkar | Ajose Koilparambil | ) www.reuters.com   time to read: +5 min
"Is there going to be a challenge to Royal Enfield? It sold fewer than 30,000 motorcycles - less than the number of bikes Royal Enfield sells each month. Triumph said it has received orders for over 14,000 Speed 400 bikes, exceeding its total India sales of the past decade. Still, the frenzy over the new models is reflected in the surge in Google searches about Harley-Davidson and Triumph in India. Improved financing options is also encouraging lower-income buyers to consider premium bikes, said HDFC Securities analyst Aniket Mhatre.
Persons: Davidson, Rishi Vora, brokerages, Harley, Kotak, Royal Enfield's, Eicher, Royal, Shubhabrata Marmar, Enfield, Varun Painter, MotoCorp, Sathish Rao, Aniket Mhatre, Priyanka Kochhar, Indranil Sarkar, Aby Jose Koilparambil, Nandan Mandayam, Saumya Singh, Navamya Ganesh Acharya, Varun, Dhanya Skariachan, Euan Rocha, Christopher Cushing Organizations: Reuters, Bajaj Auto Ltd, Handout, REUTERS, Royal Enfield, Securities, Harley, Royal, Eicher Motors, Reuters Graphics Reuters, ROYAL, Enfield, Mahindra, Mahindra's, TVS, Bajaj Auto, Bajaj, Triumph, HDFC Securities, Thomson Locations: REUTERS BENGALURU, India, Royal Enfield, Bengaluru
☆ India is learning to love electric vehicles — but they're not cars
  + stars: | 2023-01-09 | by ( Charmaine Jacob | ) www.cnbc.com   time to read: +6 min
Electric vehicle charging stations from Tata Power can be found on 350 of the 600 highways in India. Puneet Vikram Singh, Nature And Concept Photographer, | Moment | Getty ImagesWhen most people think about electric vehicles, they think cars. From brands like Tesla and Rivian in the United States, to Nio and XPeng in China, global sales of electric vehicles have surged. But in India, two-wheel vehicles such as scooters, mopeds and motorbikes, dominate the market. The starting price of electric two-wheel vehicles can be as high as 160,000 rupees.
☆ Indian rupee could see big breakout after being locked in tight range - analysts
  + stars: | 2023-01-04 | by ( Nimesh Vora | ) www.reuters.com   time to read: +2 min
MUMBAI, Jan 4 (Reuters) - The Indian rupee's narrow trading range against the dollar over the last three weeks may set the stage for a big directional move and a jump in volatility, analysts said. Volatility - Anushka"The longer the narrow range prevails ... the higher is the risk of a big eventual break," said Anindya Banerjee, head research - fx and interest rates at Kotak Securities. He pointed to an instance in the recent past when a narrow trading range was followed by a major slide for the rupee. In September-October last year, the rupee fell from 80.00 to 83.29 in just a month after being held in the 79.50-80.00 range. The rupee has repeatedly found support just under the 83 level over the last three weeks.
☆ Indian markets may see FPI revival after worst-ever selloff in 2022- analysts
  + stars: | 2022-12-30 | by ( Bharath Rajeswaran | ) www.reuters.com   time to read: +2 min
BENGALURU, Dec 29 (Reuters) - Foreign investors' selloff in Indian equities was the biggest on record in 2022, dragging the benchmark indexes to their smallest annual gain in four years, but analysts expect purchases by cross-border investors to rebound next year. Foreign portfolio investors (FPIs) sold 1,219.08 billion rupees ($14.73 billion) worth of Indian equities in 2022, till Dec. 29, the biggest selloff in Indian shares in a year since 1993, when data became available. Reuters Graphics Reuters GraphicsThe second-worst FPI selloff was in 2008 at 529.87 billion rupees ($6.40 billion), which triggered a 51.79% fall on the Nifty 50 (.NSEI). Foreign funds purchased around 958.78 billion rupees worth of stocks in the second half of 2022, after being net sellers of shares worth 2,173.58 billion rupees in the first half. Reuters GraphicsDOMESTIC INVESTORS WEIGH INMeanwhile, domestic institutional investors net bought equities worth 2,734.60 billion rupees in 2022, their best year since data became available in 2008, according to National Stock Exchange.
☆ INDIA RUPEE Rupee hits record low on worries of aggressive U.S. rate hikes
  + stars: | 2022-10-20 | by ( Anushka Trivedi | ) www.reuters.com   time to read: +3 min
read moreThe partially convertible rupee was trading at 83.16/17 per dollar by 0436 GMT, compared to its close of 83.02 on Wednesday. Register now for FREE unlimited access to Reuters.com Register"We can expect the dollar to continue strengthening as long as the Fed maintains its super hawkish stance. read moreTraders said the falling interest rate differential between India and the U.S. could continue to pressure the rupee. Shilan Shah, India economist at Capital Economics, said in a recent note that 50 bps rate hikes may be off-the-table at the RBI's meeting in early December. "We think other MPC members will have seen enough evidence of growth coming off the boil and price pressures peaking.
☆ Economic slowdown will impact all of India's tech companies: Analyst
  + stars: | 2022-10-17 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomic slowdown will impact all of India's tech companies: AnalystSumit Pokharna, VP of Kotak Securities says there's a slowdown in IT outsourcing, but sees a lot of upside potential for India's tech stocks if there the global economy stabilizes.
☆ India cenbank's FX intervention via forwards may hamper rupee's defence -analysts
  + stars: | 2022-10-17 | by ( Nimesh Vora | ) www.reuters.com   time to read: +2 min
MUMBAI, Oct 17 (Reuters) - The Reserve Bank of India's (RBI) forex intervention through forward dollar sales instead of an on-spot basis may undermine its effort to boost the rupee, analysts said. The central bank has been selling dollars in spot and conducting buy/sell swaps to shift the delivery of dollars to a future date. Register now for FREE unlimited access to Reuters.com RegisterA buy/sell swap involves an agreement to buy dollars at the spot date and to sell dollars at a future predetermined rate. The difference between the sell rate and the buy rate is the forward premium. Meanwhile, the fall in premiums also dissuades exporters to sell dollar forward.
☆ Exclusive: India's RBI asks banks to stop building positions in offshore market
  + stars: | 2022-10-13 | by ( Nimesh Vora | ) www.reuters.com   time to read: +3 min
The build-up of positions in this segment of the market is forcing the RBI to spend more reserves to defend the rupee, one of the bankers said. For instance, the USD/INR NDF 1-month rate is currently 7 paisa higher than the corresponding onshore rate and the 3-month forward rate is about 25 paisa higher. To take advantage of this arbitrage, eligible banks could buy spot dollars onshore and pay 1-month premium while selling USD/INR 1-month in the NDF market. Bankers argue that the RBI's curbs on the activity of banks on NDF will not ease pressure on the rupee. Instead, it would lead to offshore rates once again having more influence on the rupee exchange rate.
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