Jio Platforms jumps 5% to ₹1,482.70 after strong IPO
Business
Jio Platforms, Reliance Industries's telecom major, is on a roll: its shares jumped another 5% on Thursday, jumping to ₹1,482.70 apiece on NSE.
This comes right after a strong IPO debut where the stock already soared 27% above its offer price of ₹1,119, putting it now more than 32.5% higher in just a short time.
Brokerages give buy to Jio Platforms
Big names like Nomura, Motilal Oswal, and Elara Capital have all given Jio Platforms a thumbs up with Buy ratings.
They're optimistic because of Jio's huge user base and expect even more growth if data prices go up.
Target prices range from ₹1,340 to ₹1,367. Analysts say affordable plans and Jio's massive network are keeping it ahead in India's digital game.