The company's market capitalization surpassed ₹13.05 lakh crore after shares reached an intraday peak of ₹1,490, marking a 33% surge from the initial offering price. This rapid valuation ascent displaced Bharti Airtel as India's second-most valuable publicly traded corporation. Moving forward, brokerage firms like Nomura and Motilal Oswal emphasize that sustained performance hinges on digital service expansion alongside tariff revisions to support projected 20% annual profit growth.
Key points
Investors are being advised by analysts to track average revenue per user and quarterly E…: Investors are being advised by analysts to track average revenue per user and quarterly EBITDA margins rather than short-term price movements.
Projected double-digit compound annual growth through FY29 relies on expanding home broad…: Projected double-digit compound annual growth through FY29 relies on expanding home broadband services and executing potential tariff hikes.
Elevated equipment expenditures and deferred tariff revisions represent the primary downs…: Elevated equipment expenditures and deferred tariff revisions represent the primary downside risks to future stock trajectory.
Sources checked by our analysis pipeline: 1
Reliance Industries-backed Jio Platforms continued its strong stock market debut on Thursday, October 29, with shares rising another 5% in intraday trade after a blockbuster listing a day earlier. The stock climbed to an intraday high of ₹1,490, taking its gains to around 33% above the initial public offering (IPO) price of ₹1,119 in just two trading sessions.
Jio Platforms shares had surged nearly 27% on their first day of trading on Wednesday to close at ₹1,468.80. The stock's strong performance has drawn investor attention to India's largest telecom operator by market value, with brokerages highlighting its subscriber base, potential tariff increases, broadband expansion and digital services as key growth drivers.
The company's market valuation crossed ₹13.05 lakh crore, or around $137 billion, according to Bloomberg. Jio Platforms' strong debut followed its ₹30,213-crore IPO, which had priced the shares at ₹1,119 apiece. The stock opened at ₹1,358 on both the BSE and NSE, delivering listing gains of around 21% to investors who received shares in the offering.
Following its listing, Jio Platforms became India's second-most valuable listed company, behind parent…
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