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Jio shadow over Airtel, Idea stock price target

RIL suffers m-cap loss of over $2 bn in two days on concerns over profitability

Jio shadow over Airtel, Idea stock price target

Incumbent telecom players Bharti Airtel and Idea Cellular suffered huge cuts in their stock price targets, as analysts feared Jio’s launch would disrupt the $28-billion Indian telecom market.   Influential foreign brokerages Goldman Sachs, Credit Suisse and JP Morgan have cut their 12-month price targets for Airtel and Idea by as much as 19 per cent. Shares of London-listed Vodafone Plc, which derives over a tenth of its revenues from the Indian market, also fell 3 per cent on Thursday to their lowest level in more than a month. Shares of Airtel and Idea recouped ...