Jefferies sees a wide risk-reward range for Vodafone Idea, forecasting up to 143% upside in its bull case and 25% downside in its bear case. Network expansion, improving subscriber trends and tariff hikes could support strong revenue and EBITDA growth.
China and Hong Kong stocks edged lower as weakness in technology and AI-related shares outweighed faster industrial-profit growth and fresh liquidity support from China’s central bank.
Jio Platforms shares are set to list on the BSE and NSE on October 28, with the IPO commanding a grey market premium of around 22%. The Rs 30,213-crore issue was subscribed 22.19 times, led by strong institutional demand. Investors will watch the listing amid Jio’s growth ambitions and financial performance.
AI-focused neocloud stocks came under pressure after Elon Musk warned of widespread failures and industry consolidation. Heavy debt, rising financing costs, mounting losses and doubts over sustainable returns are intensifying scrutiny of the AI infrastructure boom.
China’s yuan held near a four-year high against the US dollar as the central bank moderated its daily fixing. Export-related demand and stronger industrial profits supported the currency, while global markets awaited key central bank decisions.
Japan’s Nikkei surged nearly 2%, snapping a three-session losing streak, as Anthropic’s US IPO plans and gains in American semiconductor stocks boosted AI-linked shares such as Advantest, SoftBank and Tokyo Electron.
AI stocks rallied after Anthropic disclosed IPO paperwork, with Nvidia gaining nearly 3% and the Philadelphia Semiconductor Index climbing over 3%. Chipmakers, data centre operators and AI infrastructure firms also advanced. The potential listings of Anthropic and OpenAI could offer new valuation benchmarks, even as concerns over AI spending and financing costs persist.
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