Following a debut at Rs 1,358, the equity surged to an intraday peak of Rs 1,490 on the BSE amid overwhelming institutional demand. Brokerages including Nomura, Motilal Oswal, Dolat Capital, and Elara Capital have initiated coverage with favorable ratings, driven by superior operational metrics and reduced future capital expenditures. Analysts anticipate multiple expansion as the firm leverages its dominant 5G infrastructure into higher monetization across enterprise and home broadband verticals. Dolat Capital specifically models a 21% compound annual growth rate in adjusted profit between FY26 and FY29 to reflect this broader operational scale.
Key points
Nomura projects the business will transition to a net debt-free position by FY29 as capit…: Nomura projects the business will transition to a net debt-free position by FY29 as capital spending decreases.
Elara Capital anticipates a 12-15% tariff hike in late FY27 will lift average revenue per…: Elara Capital anticipates a 12-15% tariff hike in late FY27 will lift average revenue per user to Rs 257 by FY29.
Motilal Oswal noted the firm may command a near-term valuation premium partly because of…: Motilal Oswal noted the firm may command a near-term valuation premium partly because of a low free float under 3%.
Sources checked by our analysis pipeline: 1
Jio Platforms emerged as India's second-largest listed company by market capitalisation on its debut, after listing at Rs 1,358. The listing valued the company at around Rs 12.5 lakh crore, placing it ahead of rival Bharti Airtel.
Investor demand for the IPO was strong, with the issue fully subscribed within 100 minutes of opening. The Rs 5,500 crore portion reserved for qualified institutional buyers (QIBs) was subscribed within the first 10 minutes. By the close of the third day, the IPO had received subscriptions of 22.2 times the shares on offer, while the QIB portion was subscribed 70.55 times.
Also read: Jio Q2 Preview: First results after listing. What should investors expect?
4 brokerages, all bullish on the stock
Japanese Nomura was the first brokerage to initiate coverage. It assigned a Buy rating and a target price of Rs 1,340 from the IPO price, a level the stock has already eclipsed. Analysts say that due to the company’s extensive 5G coverage, data usage per subscriber is 27% higher than Airtel's. Further, Jio’s lowest monthly churn rate among peers at 1.6%…
The Chinese electronics manufacturer is experiencing downward pressure during trading today amid shifting market dynamics. Investors are closely monitoring the company's valuation as concerns emerge regarding production adjustments and supply chain stability for its primary hardware partners. This dip reflects broader market sensitivities regarding consumer electronics demand and manufacturing distribution across Asian tech hubs.
The insurer's equity experienced upward momentum during the trading session, capturing notable attention from market participants following its performance. While the shares advanced, the primary drivers and specific operational details behind this positive surge remain unstated in current reporting. Investors are monitoring the asset closely to determine what catalyzed the shift.
The insurer's equity experienced upward momentum during the trading session, capturing notable attention from market participants following its performance. While the shares advanced, the primary drivers and specific operational details behind this positive surge remain unstated in current reporting. Investors are monitoring the asset closely to determine what catalyzed the shift.