Foreigners seem smart: Uday Kotak as rupee hits 90 against dollar

Billionaire Uday Kotak reacted after Indian rupee crossed the 90-mark against US dollar on Wednesday, falling to a new record low. "Proximate reason…foreign selling of Indian stocks, both FPI & PE under FDI. Indian investors buying. Time will tell who is smarter," Kotak said. "For now foreigners seem smarter…Time for Indian business to shake out of comfort zone," he added.