Global investors’ strategy on Indian stocks and bonds is diverging. They bought $5.5 billion worth of Indian shares this year, among the highest in emerging Asian economies, while selling $1.8 billion worth rupee-denominated bonds.
Double-digit growth forecasts are luring foreigners to Indian stocks, said Harihar Krishnamoorthy, treasurer at FirstRand Bank in Mumbai.
Bonds are not that attractive given the negative returns and a huge borrowing program, he said.
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