Motilal Oswal sets ₹1,350 target for Jio after ₹30,188cr IPO
Jio Platforms just got a thumbs-up from Motilal Oswal, who set a target price of ₹1,350 per share, about 21% higher than its IPO price of ₹1,119.
The company's shares are scheduled to make their stock market debut today after raising a massive ₹30,188 crore in its IPO.
Motilal Oswal is betting big on Jio's future growth through higher mobile tariffs, expanding home broadband, and digital services.
Motilal Oswal expects 14% revenue growth
Motilal Oswal expects Jio's revenue to grow at 14% annually and net profit to jump 20% between FY26 and FY29.
They are also predicting a major boost in wireless revenue if smartphone tariffs go up by 15% next year.
Home broadband is seen as a big growth area too, with Jio aiming for most new subscribers, and the expansion into digital services could help keep it ahead of the competition.