Shares of Reliance Industries (RIL) continued their decline on Monday, falling by close to 0.4% after their 2% drop on Friday following the company’s 48th Annual General Meeting (AGM) wherein company chief Mukesh Ambani announced his plan to list the company’s telecommunications arm Jio in the first half of 2026.

Despite the market reaction, most analysts remain upbeat on the oil-to-telecom conglomerate’s long-term prospects.

They cited the planned listing of Jio, the group’s rapid retail expansion, and its aggressive push into Artificial Intelligence (AI) and new energy ventures as structural growth drivers.

Jio IPO set to be India’s biggest listing

Ending years of speculation, Ambani confirmed on Friday that Reliance Jio will debut on the Indian stock market in the first half of 2026, subject to approvals.

The listing, expected to raise more than $6 billion through a 5% stake sale, could surpass Hyundai Motors India’s $3.3 billion flotation in 2024 to become the country’s largest-ever IPO.

“Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026,” Ambani told shareholders.

“This will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts.”

Ambani had first indicated in 2019 that both Jio and Reliance Retail would be listed within five years.

IPO announcement could led to telecom tariff hikes, unlock shareholder value

Analysts view the IPO roadmap as a critical step to unlock shareholder value and provide greater transparency into Jio’s business performance.

Brokerages broadly retained their bullish stance on RIL, with price targets suggesting up to 27% upside from current levels.

Citi maintained its “buy” rating with a price target of ₹1,690, calling the Jio listing timeline the highlight of the AGM.

JP Morgan, which has an “overweight” rating and a ₹1,695 target, said the IPO announcement increases the probability of telecom tariff hikes, a move that could boost Reliance’s earnings.

Jefferies echoed the view, projecting a 20% cumulative tariff increase for Jio by FY27. It retained a “buy” call with a target of ₹1,670.

Macquarie, with an “outperform” rating and a ₹1,650 target, called the IPO clarity a “key positive,” noting multiple growth levers across Reliance’s portfolio.

JM Financial reiterated its “buy” with a higher target of ₹1,700, highlighting Jio’s growth potential, Reliance’s AI foray through its new unit “Reliance Intelligence,” and ongoing partnerships with Meta and Google.

JM Financial believes hikes could arrive as early as 2025, benefiting both Reliance and rival Bharti Airtel.

Motilal Oswal expects Jio to deliver a 19% Ebitda CAGR between FY25 and FY28, supported by tariff increases, subscriber growth, and expansion in home broadband and enterprise services.

The brokerage also pointed to Reliance Retail’s continued scale-up and RCPL’s growing footprint as strong contributors to future earnings.

O2C and new energy businesses remain important

While Jio and Retail remain the central focus, analysts are also watching developments in RIL’s oil-to-chemicals (O2C) and new energy businesses.

JM Financial flagged Reliance’s ₹75,000 billion O2C expansion and its rapid progress in renewable energy, both of which are expected to support the company’s ambitious plan to more than double Ebitda by 2027.

Motilal Oswal expects earnings recovery in O2C after a subdued FY25, though it projects consolidated Ebitda from O2C and E&P to remain 4% lower than FY24 levels by FY28.

Nonetheless, it forecasts an 11% CAGR in consolidated Ebitda and profit after tax over FY25-28.

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The share buyback machine in the United States has never been stronger.

By late August, companies had already announced more than one trillion dollars in repurchases, the fastest pace on record. Executions lived up to expectations.

The numbers are impressive, but investors should ask what they really mean.

Share buybacks are more than a technical detail. They have become one of the dominant forces driving up the equity market, influencing liquidity, valuations, and even the perception of corporate strength.

The flow is powerful today, but it carries risks that are not always obvious.

How big has the wave become

The S&P 500 set a new record in 2024 with $942.5 billion in buybacks.

And that record is already under threat. In the first quarter of 2025 alone, companies spent $293.5 billion, up more than 20% from the prior quarter. The 12-month tally to March touched $999 billion, according to S&P Global.

The activity is highly concentrated. Only 20 companies accounted for nearly half of total repurchases in the first quarter.

Apple alone spent $26.2 billion, Meta $17.6 billion, NVIDIA $15.6 billion, and Alphabet $15.1 billion. JPMorgan bought back $7.5 billion.

The sector breakdown shows that technology leads share buybacks with $80 billion, followed by financials at $59 billion and communication services at $45 billion.

Announcements have been even larger. Apple refreshed its program with $100 billion in May. NVIDIA unveiled a $60 billion authorization in its most recent earnings report.

JPMorgan and Bank of America added $50 billion and $40 billion respectively over the summer.

Birinyi Associates noted that buyback plans topped $1 trillion by August 20, the earliest that milestone has ever been reached. July alone saw $166 billion in new announcements, the highest ever for that month.

Why boards keep spending

The drivers are clear. First, corporate cash flows remain strong. The largest technology groups are generating enormous free cash from cloud, mobile, and increasingly AI.

They are able to fund multibillion-dollar capex programs while still setting aside tens of billions for shareholders.

NVIDIA’s results in August were a big case in point.

Second, the banks regained flexibility after this year’s stress tests. Capital return plans at JPMorgan and Bank of America show that financials are back to being major buyers.

Third, repurchases offset stock-based compensation. S&P points out that only 14% of companies actually cut their diluted share count by more than 4% year-on-year. Much of the spending simply keeps share counts flat against rising option grants.

Fourth, buybacks play a market role. They act as an automatic stabilizer during periods of selling.

When markets fell in April, company programs continued to execute, cushioning the downside. Corporate desks have become the most reliable “dip buyers” in the US market.

The tax overhang

It’s not all good news for share buybacks.

Policy is the one headwind. Since January 2023, repurchases are subject to a 1% excise tax under the Inflation Reduction Act. S&P estimates the levy cut operating earnings per share for the index by about half a percentage point in the first quarter.

That is manageable at current levels, but the administration has proposed raising that rate on certain occasions.

A 2 to 4 percent rate would change behavior at the margin. Boards may shift a portion of distributions toward dividends.

The EPS optics of buybacks would also diminish. The current effect is small, but the trajectory of policy is a variable investors cannot ignore.

Does the bid really make equities safer

There is a common assumption that buybacks provide a floor for the market. There is truth in that, but the support is conditional.

Repurchases are discretionary and pro-cyclical.

They are strongest when profits are high and valuations elevated, and they vanish when earnings contract. In other words, companies buy the most stock at the top of the cycle and the least at the bottom.

That means investors cannot treat buybacks like a bond coupon or dividend stream.

They are not a permanent safety net. In recessions, programs are scaled back quickly to preserve cash. The “liquidity floor” created by buybacks is real today, but it is a mirage in downturns.

Another point is effectiveness. At record stock prices, every dollar spent retires fewer shares.

The EPS benefit of buybacks is shrinking compared to 2022 and 2023. This limits their ability to keep earnings optics climbing when valuation multiples are already stretched.

What investors should really focus on

There are three markers worth monitoring.

The first is actual execution versus authorizations. Announcements make headlines, but they are only capacity. The true market impact comes from the dollars spent each quarter, disclosed in 10-Qs and tracked by S&P.

The second is the blackout cycle. Repurchases dip around earnings releases, reducing flow by roughly 30% versus open windows. Investors often mistake this for structural weakness. In fact, many companies continue buying through pre-programmed 10b5-1 plans, just at a lower rate.

The third is the capex trade-off. AI build-outs are swallowing tens of billions in cash. If margins compress or borrowing costs rise, boards may prioritize investment and balance sheet strength over discretionary buybacks. The moment that shift happens, the buyback bid weakens.

The bullish and the bearish case

From a bullish perspective, buybacks are functioning like private-sector quantitative easing.

The flow is steady, automated, and large enough to dampen volatility. As long as cash flows remain healthy, companies will keep absorbing their own stock, shortening selloffs and prolonging the bull market.

The bearish case is that we are near the peak of buyback effectiveness.

Valuations are high, free cash flow will face pressure from rising capex, and tax risk is not trivial. The buyback bid disappears precisely when investors need it most.

In that sense, 2025 may represent a blow-off top in financial engineering, an era when EPS was flattered by record spending that may not be sustainable.

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Alibaba Group shares surged in Hong Kong trading on Monday, boosted by optimism over its cloud business and improving e-commerce operations.

The stock jumped as much as 19% to HK$137.50 (US$17.64), marking its biggest single-day gain in more than three years. It closed higher by more than 13%.

It was also the top performer on the Hang Seng Index, which rose 2.2%.

The rally followed a 13% surge in the company’s US-listed ADRs on Friday, after Alibaba posted robust quarterly earnings.

Net profit rose 78% year-on-year in the April-June period, driven by strong demand for its cloud computing services and steady performance in retail.

AI drives cloud growth and investor confidence

Cloud revenue rose 26% in the quarter, supported by surging demand for artificial intelligence applications.

Chief Executive Eddie Wu described “AI plus cloud” as one of Alibaba’s two core growth engines, alongside e-commerce.

The results prompted a wave of analyst upgrades.

Daiwa Capital Markets analysts John Choi and Robin Leung said profitability in Alibaba’s quick commerce unit is improving faster than expected, while cloud revenue growth is likely to accelerate as AI adoption scales.

They lifted their Hong Kong target price to HK$180 from HK$170.

Jefferies said Alibaba has achieved its “first-stage goal” in quick commerce by building user growth and consumer mind share.

Nomura analysts raised their ADR price target to US$170 from US$152, noting strength in both e-commerce and cloud.

Quick commerce expansion shows promise but pressures margins

Alibaba’s rapid-delivery service, which delivers orders within an hour, is its latest effort to gain share in China’s on-demand delivery market against rivals JD.com and Meituan.

Analysts believe the segment provides long-term growth potential, though margin pressures are expected in the near term.

Nomura analysts Jialong Shi and Rachel Guo cautioned that while the expansion delivers “much-needed growth,” it could weigh on short-term profitability.

They argued, however, that Alibaba’s strength lies in retail-related quick commerce, which will remain a strategic focus.

Competitive AI race intensifies in China

Alibaba is also pushing forward in artificial intelligence, rolling out upgrades to its open-source video-generating model and launching new agentic AI services and chatbots.

Morgan Stanley analysts described Alibaba as holding “China’s best AI enabler thesis,” suggesting that losses from meal delivery and instant commerce could peak this quarter while cloud continues to grow.

Still, Alibaba faces mounting competition as rivals Baidu and Tencent accelerate their own AI model launches.

Investors are closely watching whether Alibaba can successfully monetize its AI bets while managing margin pressures from quick commerce.

For now, analysts expect quick commerce losses to peak in the September quarter, with AI-driven cloud momentum underpinning earnings growth through the rest of the year.

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OpenAI is preparing to expand its Stargate-branded artificial intelligence infrastructure into Asia with a large-scale project in India.

The ChatGPT-maker is seeking local partners to establish a data centre with at least 1-gigawatt capacity, making it one of the biggest in the country.

The move signals a shift in focus towards India, OpenAI’s second-largest user market, where other technology firms such as Microsoft, Google, and Reliance Industries have already built significant cloud and computing facilities.

The development also aligns with India’s $1.2 billion IndiaAI Mission, designed to strengthen domestic AI capabilities.

OpenAI scouts India for mega data centre

According to people familiar with the matter, OpenAI has started discussions with potential partners to develop the facility. The project could be announced when Chief Executive Officer Sam Altman visits India this month, although the timeline remains uncertain.

OpenAI has declined to comment on the matter, but the size of the proposed centre—at least 1-gigawatt—would make it among the largest data facilities in India.

The infrastructure would help deliver customised AI chatbots while keeping user data within the country, addressing ongoing concerns about international data transfers.

Stargate expansion beyond the US

The initiative in India comes as part of OpenAI’s wider Stargate project. In the United States, the company has teamed up with SoftBank Group and Oracle to develop facilities totalling 4.5 gigawatts of computing power, with the investment pegged at $500 billion.

The scale of the American buildout has already drawn attention from President Donald Trump, who described the project as unprecedented.

Beyond the US, OpenAI has announced plans to anchor a 520-megawatt facility in Norway and a 5-gigawatt project in Abu Dhabi, where it will use 1-gigawatt of computing power.

OpenAI for Countries initiative gathers momentum

India’s potential data centre also ties into OpenAI’s collaboration with the US government under the “OpenAI for Countries” programme.

The effort aims to build AI infrastructure in line with democratic values and position the US as a leader in global AI development against China.

More than 30 countries have expressed interest in partnerships, though OpenAI is initially targeting ten. The model allows the company to position itself as both a technology provider and a strategic partner in national AI missions.

Expansion in India during trade tensions

The timing of OpenAI’s Indian ambitions comes as Washington and New Delhi face fresh trade disputes. President Trump has imposed a 50% tariff on Indian goods in response to trade barriers and the country’s purchase of Russian oil.

Despite these challenges, OpenAI has committed to working with the Indian government to support the IndiaAI Mission.

The San Francisco-based firm is also growing its presence in the market by opening an office in New Delhi, expanding its workforce, and launching a $5 monthly plan tailored to Indian users.

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The FTSE 100 Index has pulled back in the past few days, falling from a high of £9,358 on August 22 to £9,187 today. Still, the blue-chip index has performed well this year as it jumped by over 21% from its lowest point in April. This article looks at the most notable performers this year and what to expect in September.

Top FTSE 100 gainers in 2025

Many companies in the FTSE 100 Index have done well by gaining by over 20% this year, mirroring the performance of the broader financial market. 

Fresnillo’s stock price has jumped by over 186% this year, making it the best-performing company in the index. Its performance is mostly because of the strong performance of silver. 

Silver, a top precious and industrial metal, has jumped to $40, the highest level in over a decade, driven by strong demand and a supply deficit. This is important for Fresnillo because it is one of the biggest players in the silver market.

Babcock International’s share price has soared by over 102% this year, making it the second-best-performing company in the FTSE 100 Index. It has jumped because of the ongoing demand for military equipment as it is a key manufacturer of warships, land systems, and aviation. 

European defense companies have surged this year as most countries have boosted their spending. Most of them are focusing their procurement on European companies amid the ongoing trade war with the US.

Airtel Africa’s share price has jumped by 94% this year as the telecom giant has continued to gain market share in the region. The most recent results showed that its customer base jumped by 9% to 169.4 million in the last quarter, with data one jumping by 17.4%.

Airtel is also benefiting from the money transfer business as the number of customers soaring to 45.9 million. Consequently, revenue jumped by 24.9% to $1.42 billion. 

Rolls-Royce share price has jumped by 88% this year as its three segments have continued thriving. Other top gainers in the index include BAE Systems, BT Group, St. James Place, Lloyds Banking Group, BAT, Standard Chartered, and Aviva. 

Top laggards in the Footsie Index

Not all companies in the FTSE 100 Index have done well this year. WPP stock price has dropped by 52% this year as the advertising industry has faced a major challenge. This is notable since WPP is the biggest advertising agency group globally. 

The most recent results showed that WPP Group’s revenue dropped by 7.8% in the first half to £6.6 billion, while the operating proit rose to £221 million.

Croda International stock price has dropped by 26% this year, making it the second-worst performing company in the FTSE 100 Index. Its recent results showed that the sales rose by 4.9% in the first half of the year to £855 million, while its profit plunged 20% to £85 million.

The other notable laggards in the FTSE 100 Index are companies like Bunzl, Taylor Wimpey, Diageo, Barratt Redrow, and the London Stock Exchange (LSE).

FTSE 100 Index analysis 

The daily timeframe chart shows that the FTSE 100 Index has pulled back in the past few days, moving from a high of £9,358 on August 22 to the current £9,187. 

On the positive side, the index remains above all moving averages, a sign that the bullish momentum is continuing. It has moved slightly below the weak, stop & reverse point of the Murrey Math Lines tool. 

Therefore, the most likely scenario is where the index rebounds and possibly hits the extreme overshoot point at £9,687, up by 5.60% from the current level. 

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A quiet and tentative optimism is gracing European markets at the start of the new trading week, with stocks poised for a slightly higher open on Monday.

This fragile calm comes after a turbulent end to the previous week and against a complex global backdrop, as investors digest conflicting economic signals from China and the lingering echo of a pivotal policy hint from the US Federal Reserve.

With US financial markets closed for the Labor Day holiday, Europe is left to set its own tone, and early indications point to a cautious but positive start.

Data from IG suggests Germany’s DAX and Italy’s FTSE MIB will both open around 0.12% higher, with France’s CAC 40 up 0.1%.

The Asian ambiguity: a conflicting signal from China

The session is unfolding against a mixed and somewhat confusing picture from the Asia-Pacific region. The key data point overnight was a set of dueling manufacturing reports from China.

The private RatingDog survey—formerly the Caixin PMI—showed a welcome return to expansion, with a reading of 50.5. However, the official government data, released on Sunday, remained in contraction territory at 49.4.

This divergence paints an ambiguous picture of the health of the world’s second-largest economy, leaving investors to wonder which signal to trust.

The diplomatic thaw: a new partnership in the east

On the geopolitical front, a more clearly positive narrative is emerging. Investors are continuing to assess the significant warming of relations between India and China.

Following a landmark meeting at the Shanghai Cooperation Organization summit, leaders from both nations agreed that they are “development partners, not rivals,” a major diplomatic breakthrough that could have long-term positive implications for regional stability and trade.

The shadow of the Fed: a dovish echo lingers

While the immediate economic calendar in Europe is light, the market is still very much operating in the shadow of last week’s events.

Regional markets closed lower on Friday as traders wrestled with a volley of inflation data.

But the week’s defining moment was a speech from Fed Chair Jerome Powell, which was widely interpreted as dovish-tilting and significantly stoked expectations for an interest rate cut at the central bank’s next meeting on September 16-17.

It is this prospect of easier monetary policy that is providing a quiet, underlying support for equities as a new and uncertain week begins.

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The CAC 40 Index has slumped in the past few days as concerns about the country’s political crisis has continued. It has slumped to a low of €7,740, down by 3.28% from its highest point this month. This article explores what to expect now that bond yields have jumped.

Why French stocks have plunged

The CAC 40 Index has plunged in the past few days, moving from a high of €8,000 in August to a low of €7,740. The crash happened as investors reacted to the ongoing political crisis that could see the Prime Minister, Francois Bayrou, lose his job in the near term. 

Bayrou is the country’s fifth prime minister since 2020. He took over from Michel Barnier, who was the prime minister between September and December last year. Gabriel Attal was the premier between January and September last year, while Elisabeth Borne lasted for two years. 

The ongoing political crisis is primarily driven by the country’s fiscal situation as the debt pile continues rising. As a result, the government has attempted to implement some reforms that will help it to reduce spending. 

Like Italy, it has attempted to implement fiscal discipline, which has led to substantial protests. As a result, with no end in sight, borrowing costs have surged even as the European Central Bank has slashed interest rates in the past two years.

Read more: Top CAC 40 shares to watch: LVMH, BNP Paribas, Vivendi and more

Data shows that the 10-year bond yields has jumped to 3.56%, its highest level since March 17. Similarly, the five-year yield has risen to 2.85%. In contrast, the German 10 year yield has risen to 2.7% and the five-year has risen to  2.30%.

The rising government bond yields have made stocks less attractive, with many investors rotating to the bond market.

Meanwhile, the index has been affected by the ongoing performance of the Chinese market. French stocks are more exposed to the Chinese market because most of them do a lot of business there. 

Some of the most exposed firms are luxury brand firms like LVMH, Kering, and Hermes. Kering’s stock has dropped by 4% this year and 53% in the last three years.

Hermes, often seen as the gold standard of the industry, has dropped by 10% this year, while LVMH has slumped by 20% this year. 

Other companies exposed to China like Pernod Ricard and Accor have also slumped. Capgemini’s stock price has plunged by 23% this year as demand for tech consulting has waned. 

Some of the top laggards in the CAC 40 Index are companies like Carrefour, Renault, Stellantis, and Publicis Groupe. 

On the other hand, the top gainers in the index are companies like Legrand, Safran, Thales, Vinci, Société Générale, and BNP Paribas.

CAC 40 Index technical analysis 

The daily chart shows that the CAC 40 Index has pulled back in the past few days, moving below the 50-day and 25-day moving averages. It formed a triple-top pattern at €7,956 and a neckline at €7,500. 

The most likely scenario is where the stock drops further ahead of the vote of no confidence. If this happens, the next point to watch will be at €7,500. A move above the resistance point at €7,956 will invalidate the bearish outlook.

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On Monday, Norwegian energy giant Equinor publicly committed its support for Orsted’s proposed $9.4 billion rights issue. 

This significant financial move by the Danish offshore wind developer comes as the company endeavors to strengthen its balance sheet, according to a Reuters report. 

The decision to bolster its financial standing is largely influenced by the challenging political climate in the US, particularly the perceived hostility towards wind power from President Donald Trump. 

Orsted’s initiative reflects a proactive strategy to navigate potential headwinds in the renewable energy sector, ensuring its long-term stability and continued investment in offshore wind projects despite external pressures.

Strategic alliance and challenges

The decision by the Norwegian energy conglomerate, with the state holding a substantial 67% ownership stake, underscores its strategic intent to deepen its collaboration and forge stronger alliances with Orsted. 

This concerted effort comes at a crucial juncture as both companies endeavor to navigate the intricate and often challenging regulatory landscape within the burgeoning US offshore wind market. 

The move is indicative of a broader ambition to consolidate their positions and overcome the various governmental and environmental stipulations that define this rapidly evolving sector.

“In response to the challenges facing offshore wind, the industry will see consolidation and new business models,” Equinor said in a statement.

Equinor believes that a closer industrial and strategic collaboration between Orsted and Equinor can create value for all shareholders in both companies.

The leading Danish multinational power company, is set to convene an extraordinary general meeting (EGM) of its shareholders this Friday. 

The primary agenda for this crucial meeting is to seek approval for a significant capital raise. This decision comes in response to what the company has termed “material adverse developments” impacting the US renewable energy sector, particularly within the offshore wind market where Orsted holds substantial investments.

The need for additional capital underscores growing challenges within the American clean energy landscape, including inflationary pressures, supply chain disruptions, and rising interest rates, which have collectively increased project costs and diminished anticipated returns for developers. 

Equinor’s interest

Equinor has announced its firm intention to subscribe for new shares in Orsted, a leading developer of offshore wind power. 

Equinor, which currently holds a 10% stake in Orsted, plans to invest up to 6 billion Danish crowns (approximately $941 million) in this subscription. 

This substantial investment underscores Equinor’s strong confidence in Orsted’s strategic business direction and its robust project pipeline. 

This move by Equinor is anticipated to further strengthen Orsted’s financial position, enabling it to accelerate its ambitious development plans for new offshore wind farms around the world. 

The continued collaboration and investment from key partners like Equinor are vital for driving the large-scale deployment of renewable energy infrastructure necessary to meet global climate goals.

Equinor intends to nominate a candidate for election to Orsted’s board at the upcoming annual general meeting.

Industry outlook

Last month, the US Bureau of Ocean Energy Management (BOEM) issued a work-stop order for Orsted’s Revolution Wind project, valued at $1.5 billion, despite it being 80% complete. 

This marks the second significant suspension of an offshore wind project by BOEM this year.

Equinor’s Empire Wind 1 project, located off the coast of New York, was previously halted by BOEM in April. 

Equinor stated that it is closely monitoring the situation in the US and will continue to engage in dialogue with Orsted as developments occur.

Orsted, 50.1% owned by the Danish state, has reaffirmed its commitment to a rights issue, a decision supported by the Danish finance ministry, despite a recent setback in the US.

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Ola Electric’s stock leaped as much as 13% on Monday, extending the two-week uptrend that has driven gains of over 45% since mid-August.

Key triggers behind this spike include strong technical momentum: the stock performed a breakout above previous resistance, supported by high volume and a series of higher price lows.

The Relative Strength Index (RSI) touched 75, signalling an overbought zone and hinting at either a pause or profit booking ahead.

The underlying catalyst was regulatory: Ola’s top-selling Gen 3 scooter range received coveted Production Linked Incentive (PLI) certification, making the company eligible for government support worth 13–18% of sales until 2028.

This covers the lion’s share of Ola’s scooter volume and is intended to boost both margins and profitability from Q2 FY26 onwards.

Management and analysts say the improvement in cost structure could be significant, positioning Ola closer to EBITDA positivity “sooner than earlier expected”.

In addition to PLI benefits, investors have reacted positively to Ola’s push into local battery manufacturing, efforts to reduce dependence on rare earth metals, and technological upgrades in charging speed.

The company also launched new models like the S1 Pro Sport and Roadster X+, aiming for delivery rollouts through late 2025 and early 2026.

Ola Electric’s stock: Financial progress, but caution lingers

Despite the stock euphoria, Ola’s underlying financials are still under pressure.

For Q1 FY26, Ola reported a net loss of ₹428 crore, wider than the previous year but an improvement from the March quarter as operating costs fell.

Quarterly revenues halved year-on-year to ₹828 crore, though gross margin improved to 25.6%.

Notably, Ola’s auto segment turned EBITDA positive for the first time in June, reflecting impact from cost cuts, vertical integration, and initial incentives.

The company has guided for full-year improved profitability and a gross margin target of 35–40% in subsequent quarters, contingent on higher PLI benefits and growing market share.

Ola delivered 68,192 vehicles in Q1, with new models expected to drive further growth.

However, the stock still trades 43% lower year-to-date and remains well beneath its ₹76 IPO price.

Sentiment among analysts is mixed as some see Ola as a potential long-term winner in the Indian EV sector, especially as production scale rises and policy support persists.

The others point to continued cash flow challenges, pressure to capture and defend market share, and the memory of this year’s steep share declines.

Inflection point, or passing wave?

The current rally in Ola Electric is an intersection of bullish policy momentum, early signs of financial improvement, and technical excitement.

If cost controls, PLI incentives, and ambitious production targets are delivered on, Ola could indeed mark a turning point for India’s EV industry.

But with losses still substantial, the market likely awaits proof of sustained profitability to turn recent optimism into long-term conviction. For now, the rally is equal parts hope and risk, a microcosm of the maturing Indian EV marketplace.

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Tesco share price jumped to a decade high on Monday, continuing an uptrend that started in April when it bottomed at 302p. TSCO stock soared to a high of 435p, bringing its market capitalization of over £28.4 billion. 

Tesco is thriving and growing its market share

Tesco, the biggest retailer in the UK, has continued to grow its market share in the past few months. A recent report by Kantar showed that its market share rose to 28.4%, almost double that of Sainsbury’s, which has about 15% in share. 

Tesco’s market share is also much higher than ASDA’s 11.8% and Aldi’s 10.8. The company will likely continue growing its market share after the recent data showed that inflation in the country was rising.

Its market share is notable because analysts were expecting  Aldi’s price cuts to boost its market share, which has not happened because of Tesco’s price match strategy. Indeed, Asda has continued to lose market share i

A report by the Office of National Statistics (ONS) showed that the headline consumer inflation jumped to 3.6% in July, continuing a trend that has been going on in the past few months.

Tesco benefits from high inflation because it helps it boost prices, increasing its margins. Its scale helps the company to negotiate prices with suppliers, ensuring that its prices are lower than those of its competitors.

The most recent results showed that Tesco’s business continued thriving in the 13 weeks to May 24th. These numbers showed that its sales rose by 4.6% to over £16.38 billion, with the Republic of Ireland (ROI) experiencing the most growth at 5.5%.

The UK revenue rose by 5.1% to £12 billion, while Booker and Central Europe rose by 2% and 4.1%, respectively.

Most importantly, the growing revenue has pushed the company to accelerate its shareholder returns. It is in the process of buying back shares worth over £1.45 billion, a move that will continue to shrink its outstanding shares. It ended last quarter with 6.7 billion outstanding shares, down from over 7.67 billion in 2021.

The ongoing share buyback and the increasing dividends have helped to push its annual yield to 3.17%, making it a top company for dividend investors.

Tesco share price technical analysis

The weekly timeframe chart shows that the TSCO stock price has been in a strong bull run in the past few months. It recently crossed the important resistance level at 387.3p, its highest point in February, invalidating the double-top pattern whose neckline is at 301p. 

The stock has remained above the 50-week and 100-week moving averages. Also, the Average Directional Index (ADX) has moved to 28, a sign that the momentum is continuing. 

Therefore, the stock will likely continue rising as investors target 500p in the coming week. A drop below the support at 387p will invalidate the bullish view.

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