Reliance AGM Puts Jio IPO in Focus After India’s NSE Filing

Good morning... I’m Rajesh Mascarenhas in Mumbai, where we’re still waiting for the rain to fall and the Jio IPO process to begin.Talking of grey clouds, parts of the equity market have a gloomy outlook today after Accenture said overnight it’s expecting to reel in less revenue in the coming months, as AI continues to upend the consulting services industry.That being said, the wider backdrop is more positive. The MSCI Asia Pacific Index is holding near a record high. The Nifty 50 has been tagging along, completing a fifth day of gains on Thursday to match a similar streak seen in early April. With peace in the Middle East looking a distinct possibility and oil prices cooling, some analysts are calling for a more positive view on India. In a note to clients, Barclays described how the energy crisis is easing, tariff concerns have faded, and the market is available at a “meaningful discount” while growth remains near 7%. The rupee, too, appears to be on a stronger footing, with Citi expecting India to attract as much as $80 billion in foreign capital by year-end.