Dubai calling for India's equity traders

MUMBAI: It is not just the people of Kerala, but the Dubai bug has bitten even those on Dalal Street.

A leading stock picker, who till recently traded from his Nariman Point office, has partially moved his operations to Dubai. A highly liberal tax regime, lower impact cost and ease of betting on global currencies are the chief reasons for the ‘Big Bull’s’ shift, two sources close to him told ET.

The sources further said that the bull and one of his close partner, who is already operating from Dubai, had mounted huge bets on the Chinese currency via a Dubai based broker.